Victory Capital Management Inc. Has $380,000 Stake in Trustmark Co. (NASDAQ:TRMK)

Victory Capital Management Inc. decreased its stake in Trustmark Co. (NASDAQ:TRMK) by 52.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,732 shares of the financial services provider’s stock after selling 12,062 shares during the period. Victory Capital Management Inc.’s holdings in Trustmark were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TRMK. Quest Partners LLC acquired a new stake in Trustmark in the 3rd quarter valued at $309,000. Intech Investment Management LLC acquired a new position in Trustmark in the third quarter worth $338,000. The Manufacturers Life Insurance Company boosted its stake in Trustmark by 6.9% in the third quarter. The Manufacturers Life Insurance Company now owns 32,926 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 2,137 shares in the last quarter. Quantbot Technologies LP acquired a new position in Trustmark in the third quarter worth $327,000. Finally, FMR LLC boosted its stake in Trustmark by 143.4% in the third quarter. FMR LLC now owns 6,851 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 4,036 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TRMK shares. Keefe, Bruyette & Woods boosted their price objective on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, 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 on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Trustmark Trading Up 0.2 %

TRMK stock opened at $34.01 on Friday. The company has a market cap of $2.07 billion, a P/E ratio of 9.34 and a beta of 0.71. Trustmark Co. has a twelve month low of $25.41 and a twelve month high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $35.96 and a 200-day moving average of $35.46.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities research analysts expect that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is presently 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.