Bank of New York Mellon Corp Sells 82,957 Shares of Trustmark Co. (NASDAQ:TRMK)

Bank of New York Mellon Corp reduced its position in shares of Trustmark Co. (NASDAQ:TRMK) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 543,967 shares of the financial services provider’s stock after selling 82,957 shares during the period. Bank of New York Mellon Corp’s holdings in Trustmark were worth $19,240,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Trustmark during the third quarter worth approximately $248,000. Principal Financial Group Inc. raised its stake in shares of Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after buying an additional 37,989 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Trustmark during the third quarter worth approximately $537,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Trustmark during the third quarter worth approximately $248,000. Finally, GoalVest Advisory LLC bought a new stake in shares of Trustmark during the third quarter worth approximately $63,000. 67.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRMK shares. Keefe, Bruyette & Woods boosted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. DA Davidson boosted their price objective on shares of 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 started coverage on shares of Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective for the company. Five equities research 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, Trustmark has an average rating of “Hold” and a consensus price target of $38.67.

Trustmark Trading Down 4.7 %

Shares of Trustmark stock opened at $32.93 on Tuesday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 9.05 and a beta of 0.71. 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 Co. has a 12-month low of $25.24 and a 12-month high of $40.73. The firm’s 50-day moving average price is $36.15 and its two-hundred day moving average price is $35.42.

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

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is 26.37%.

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.