Rhumbline Advisers Sells 7,993 Shares of Trustmark Co. (NASDAQ:TRMK)

Rhumbline Advisers reduced its stake in Trustmark Co. (NASDAQ:TRMK) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,781 shares of the financial services provider’s stock after selling 7,993 shares during the period. Rhumbline Advisers owned 0.29% of Trustmark worth $6,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Trustmark by 4,763.0% in the first quarter. GAMMA Investing LLC now owns 62,392 shares of the financial services provider’s stock valued at $2,152,000 after acquiring an additional 61,109 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Trustmark during the fourth quarter worth $82,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Trustmark during the fourth quarter worth $212,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after buying an additional 2,051 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Hovde Group boosted their target price on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Wall Street Zen lowered shares of Trustmark from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Finally, Keefe, Bruyette & Woods cut their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $39.80.

Trustmark Trading Down 1.4%

Shares of TRMK opened at $34.88 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $34.04 and a 200-day simple moving average of $35.37. Trustmark Co. has a 1-year low of $27.62 and a 1-year high of $40.73. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 9.58 and a beta of 0.66.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. Equities analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio is presently 25.00%.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.