Thrivent Financial for Lutherans Sells 68,761 Shares of Trustmark Corporation $TRMK

Thrivent Financial for Lutherans lowered its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 37.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,107 shares of the financial services provider’s stock after selling 68,761 shares during the period. Thrivent Financial for Lutherans owned approximately 0.19% of Trustmark worth $4,558,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its holdings in Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares during the period. Smith Shellnut Wilson LLC ADV bought a new stake in shares of Trustmark in the third quarter worth $205,000. Cetera Investment Advisers bought a new stake in shares of Trustmark during the 2nd quarter valued at about $207,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Trustmark in the second quarter worth approximately $208,000. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

Shares of Trustmark stock opened at $44.69 on Friday. The company has a market capitalization of $2.68 billion, a PE ratio of 12.05 and a beta of 0.69. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $44.71. The stock’s fifty day moving average is $40.74 and its two-hundred day moving average is $39.49. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The company had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. During the same period in the previous year, the company earned $0.92 EPS. As a group, analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio is currently 25.88%.

Analyst Ratings Changes

Several research firms have recently commented on TRMK. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Hovde Group increased their price objective on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. Finally, DA Davidson increased their target price on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and a consensus price target of $43.83.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.