Sterling Capital Management LLC Decreases Stock Position in Trustmark Corporation $TRMK

Sterling Capital Management LLC cut its position in Trustmark Corporation (NASDAQ:TRMK) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,045 shares of the financial services provider’s stock after selling 14,210 shares during the period. Sterling Capital Management LLC owned 0.10% of Trustmark worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in Trustmark in the 1st quarter valued at $1,104,000. SG Americas Securities LLC boosted its stake in Trustmark by 9.0% during the 1st quarter. SG Americas Securities LLC now owns 39,611 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 3,258 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Trustmark during the 4th quarter worth $898,000. Rockefeller Capital Management L.P. grew its holdings in shares of Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock worth $33,000 after buying an additional 779 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Trustmark by 9.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,393 shares of the financial services provider’s stock worth $483,000 after buying an additional 1,090 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Price Performance

Trustmark stock opened at $46.59 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $44.60 and a 200 day moving average price of $42.93. Trustmark Corporation has a 12-month low of $35.96 and a 12-month high of $46.76. The stock has a market cap of $2.73 billion, a P/E ratio of 12.33 and a beta of 0.65.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The company had revenue of $208.07 million for the quarter, compared to analyst estimates of $204.98 million. During the same period in the previous year, the business posted $0.88 EPS. Sell-side analysts anticipate that Trustmark Corporation will post 3.92 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Trustmark’s dividend payout ratio is currently 26.46%.

Analyst Upgrades and Downgrades

TRMK has been the topic of several research reports. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded shares of Trustmark from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Brean Capital assumed coverage on shares of Trustmark in a research note on Thursday, March 12th. They issued a “buy” rating on the stock. DA Davidson restated a “neutral” rating and set a $44.00 target price on shares of Trustmark in a report on Wednesday, April 29th. Finally, Piper Sandler upped their price target on Trustmark from $44.00 to $45.50 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.75.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.