Bank of New York Mellon Corp Cuts Position in Trustmark Corporation (NASDAQ:TRMK)

Bank of New York Mellon Corp decreased its position in Trustmark Corporation (NASDAQ:TRMK) by 4.1% in the 1st quarter, Holdings Channel reports. The fund owned 521,585 shares of the financial services provider’s stock after selling 22,382 shares during the period. Bank of New York Mellon Corp’s holdings in Trustmark were worth $17,989,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Trustmark by 41.0% in the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 526 shares in the last quarter. Swiss National Bank grew its position in Trustmark by 0.7% in the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider’s stock valued at $4,046,000 after acquiring an additional 800 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Trustmark by 7.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,930 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 847 shares in the last quarter. Prudential Financial Inc. grew its position in Trustmark by 0.9% in the fourth quarter. Prudential Financial Inc. now owns 101,730 shares of the financial services provider’s stock valued at $3,881,000 after acquiring an additional 896 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Trustmark by 14.0% during the fourth quarter. Captrust Financial Advisors now owns 7,722 shares of the financial services provider’s stock worth $273,000 after buying an additional 949 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Trustmark stock opened at $38.55 on Friday. 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 company has a market cap of $2.33 billion, a PE ratio of 10.04 and a beta of 0.66. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $40.73. The company has a fifty day moving average price of $35.94 and a two-hundred day moving average price of $35.22.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to analysts’ expectations of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. Research analysts expect that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, May 30th. Trustmark’s payout ratio is 25.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRMK. Wall Street Zen downgraded shares of Trustmark from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Hovde Group lifted their price objective on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.80.

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.