Trustmark Co. (NASDAQ:TRMK) Shares Sold by Comerica Bank

Comerica Bank cut its stake in Trustmark Co. (NASDAQ:TRMK) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,435 shares of the financial services provider’s stock after selling 1,292 shares during the quarter. Comerica Bank’s holdings in Trustmark were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its holdings in Trustmark by 4.7% during the 4th quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 456 shares during the period. HB Wealth Management LLC boosted its holdings in Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider’s stock valued at $2,640,000 after acquiring an additional 528 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Trustmark by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock valued at $1,920,000 after acquiring an additional 528 shares during the period. Element Wealth LLC boosted its holdings in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 533 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Trustmark by 0.7% in the 4th quarter. Swiss National Bank now owns 114,400 shares of the financial services provider’s stock valued at $4,046,000 after buying an additional 800 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods decreased their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Hovde Group lifted their price objective on Trustmark from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Janney Montgomery Scott started coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, DA Davidson raised their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.80.

Trustmark Trading Up 3.1%

TRMK opened at $36.20 on Tuesday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 9.95 and a beta of 0.63. Trustmark Co. has a 52 week low of $27.42 and a 52 week high of $40.73. The business’s 50 day moving average is $33.58 and its two-hundred day moving average is $35.68. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, research analysts predict that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio (DPR) is 25.00%.

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.