American Century Companies Inc. Sells 231,341 Shares of Trustmark Co. (NASDAQ:TRMK)

American Century Companies Inc. reduced its position in Trustmark Co. (NASDAQ:TRMK) by 23.8% in the 4th quarter, Holdings Channel reports. The firm owned 740,365 shares of the financial services provider’s stock after selling 231,341 shares during the quarter. American Century Companies Inc.’s holdings in Trustmark were worth $26,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in shares of Trustmark in the 3rd quarter valued at $338,000. The Manufacturers Life Insurance Company raised its position in Trustmark by 6.9% in the third quarter. The Manufacturers Life Insurance Company now owns 32,926 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 2,137 shares in the last quarter. Quantbot Technologies LP acquired a new position in Trustmark in the third quarter worth about $327,000. FMR LLC lifted its stake in Trustmark by 143.4% during the third quarter. FMR LLC now owns 6,851 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 4,036 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Trustmark by 93.4% during the third quarter. BNP Paribas Financial Markets now owns 23,767 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 11,477 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Ratings Changes

TRMK has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. DA Davidson lifted their price objective on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Trustmark currently has an average rating of “Hold” and a consensus price target of $40.60.

Trustmark Price Performance

Trustmark stock opened at $34.30 on Friday. The business’s fifty day moving average is $35.98 and its two-hundred day moving average is $35.56. 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 cap of $2.09 billion, a P/E ratio of 9.42 and a beta of 0.71. Trustmark Co. has a 52 week low of $25.41 and a 52 week high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 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%. Equities research analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is 26.37%.

About Trustmark

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.