Trustmark Corporation $TRMK Stake Cut by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in Trustmark Corporation (NASDAQ:TRMK) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,841 shares of the financial services provider’s stock after selling 12,624 shares during the quarter. Fisher Asset Management LLC owned approximately 0.67% of Trustmark worth $15,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TRMK. American Century Companies Inc. grew its stake in Trustmark by 30.5% during the 3rd quarter. American Century Companies Inc. now owns 564,180 shares of the financial services provider’s stock worth $22,342,000 after buying an additional 132,023 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Trustmark by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 470,756 shares of the financial services provider’s stock worth $16,236,000 after acquiring an additional 69,110 shares during the period. Federated Hermes Inc. lifted its position in Trustmark by 7.3% in the 3rd quarter. Federated Hermes Inc. now owns 369,109 shares of the financial services provider’s stock valued at $14,617,000 after purchasing an additional 25,164 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Trustmark by 9.8% during the 3rd quarter. Principal Financial Group Inc. now owns 328,925 shares of the financial services provider’s stock valued at $13,025,000 after purchasing an additional 29,302 shares during the period. Finally, Trustmark Bank Trust Department boosted its stake in Trustmark by 0.6% during the 2nd quarter. Trustmark Bank Trust Department now owns 300,167 shares of the financial services provider’s stock valued at $10,944,000 after purchasing an additional 1,788 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Stock Performance

Shares of TRMK opened at $43.24 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The firm’s 50 day moving average is $42.12 and its 200-day moving average is $40.27. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $45.43. The stock has a market capitalization of $2.54 billion, a P/E ratio of 11.65 and a beta of 0.68.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same period last year, the firm posted $0.92 earnings per share. Equities research analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is presently 26.95%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TRMK shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report 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. Wall Street Zen lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, DA Davidson upped their target price on Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.