Trustmark Co. (NASDAQ:TRMK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 543,967 shares of the financial services provider’s stock after selling 82,957 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Trustmark worth $19,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRMK. GoalVest Advisory LLC purchased a new stake in Trustmark in the 3rd quarter worth approximately $63,000. KBC Group NV grew its stake in Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark in the 3rd quarter worth approximately $130,000. Point72 DIFC Ltd purchased a new stake in Trustmark in the 3rd quarter worth approximately $170,000. Finally, Blue Trust Inc. boosted its holdings in shares of Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 943 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 4.7 %

Trustmark stock opened at $32.93 on Tuesday. The company has a 50 day moving average price of $36.15 and a 200 day moving average price of $35.42. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 9.05 and a beta of 0.71.

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

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Analysts Set New Price Targets

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

Trustmark 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.