Newport Trust Company LLC Sells 31,331 Shares of Trustmark Corporation $TRMK

Newport Trust Company LLC cut its stake in Trustmark Corporation (NASDAQ:TRMK) by 6.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 429,914 shares of the financial services provider’s stock after selling 31,331 shares during the quarter. Newport Trust Company LLC’s holdings in Trustmark were worth $17,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TRMK. Richardson Financial Services Inc. grew its holdings in shares of Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares during the period. GAMMA Investing LLC grew its stake in Trustmark by 23.2% during the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after buying an additional 419 shares in the last quarter. Smith Shellnut Wilson LLC ADV acquired a new stake in Trustmark during the third quarter worth about $205,000. Finally, Silverlake Wealth Management LLC bought a new position in Trustmark in the 3rd quarter valued at about $212,000. 67.64% of the stock is currently owned by institutional investors.

Trustmark Trading Down 4.0%

TRMK opened at $40.82 on Friday. The company has a market cap of $2.45 billion, a P/E ratio of 11.15 and a beta of 0.69. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $39.84 and its 200-day moving average is $39.19. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $43.29.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The company had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. Trustmark’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Trustmark’s dividend payout ratio (DPR) is 26.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TRMK. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.33.

Trustmark 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.