Blue Trust Inc. Lowers Holdings in Trustmark Co. (NASDAQ:TRMK)

Blue Trust Inc. lowered its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 73.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,335 shares of the financial services provider’s stock after selling 3,618 shares during the quarter. Blue Trust Inc.’s holdings in Trustmark were worth $47,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC purchased a new stake in shares of Trustmark during the 3rd quarter valued at $63,000. KBC Group NV lifted its stake in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Trustmark during the 3rd quarter worth about $130,000. Arlington Trust Co LLC increased its position in Trustmark by 77.0% during the 3rd quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 2,309 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Trustmark in the third quarter valued at approximately $170,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TRMK shares. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.67.

Trustmark Stock Performance

Shares of TRMK stock opened at $36.11 on Thursday. The company’s fifty day moving average price is $36.17 and its two-hundred day moving average price is $35.19. 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 market capitalization of $2.19 billion, a P/E ratio of 9.92 and a beta of 0.76. Trustmark Co. has a 12 month low of $25.24 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, research analysts anticipate that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.66%. Trustmark’s dividend payout ratio is currently 26.37%.

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.