Bank of New York Mellon Corp decreased its stake in Trustmark Corp (NASDAQ:TRMK) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,201,880 shares of the financial services provider’s stock after selling 22,798 shares during the period. Bank of New York Mellon Corp owned approximately 1.77% of Trustmark worth $38,293,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TRMK. Dimensional Fund Advisors LP boosted its position in shares of Trustmark by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 5,178,682 shares of the financial services provider’s stock worth $171,518,000 after buying an additional 145,646 shares during the period. Wells Fargo & Company MN boosted its position in shares of Trustmark by 3.0% in the third quarter. Wells Fargo & Company MN now owns 2,321,125 shares of the financial services provider’s stock worth $76,875,000 after buying an additional 67,258 shares during the period. 361 Capital LLC purchased a new stake in shares of Trustmark in the third quarter worth about $2,093,000. Earnest Partners LLC boosted its position in shares of Trustmark by 1.4% in the third quarter. Earnest Partners LLC now owns 2,055,699 shares of the financial services provider’s stock worth $68,085,000 after buying an additional 28,819 shares during the period. Finally, Trustmark National Bank Trust Department boosted its position in shares of Trustmark by 7.0% in the third quarter. Trustmark National Bank Trust Department now owns 429,643 shares of the financial services provider’s stock worth $14,230,000 after buying an additional 28,027 shares during the period. 63.77% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on TRMK shares. BidaskClub raised Trustmark from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $33.00 price target on shares of Trustmark in a report on Thursday, January 25th. Zacks Investment Research downgraded Trustmark from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Hovde Group set a $33.00 price target on Trustmark and gave the company a “hold” rating in a report on Monday, February 5th. Finally, SunTrust Banks reissued a “hold” rating and issued a $38.00 price target on shares of Trustmark in a report on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating, Trustmark currently has an average rating of “Hold” and a consensus price target of $34.50.
Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $153.06 million during the quarter, compared to the consensus estimate of $152.80 million. Trustmark had a return on equity of 8.35% and a net margin of 16.15%. During the same quarter in the prior year, the business posted $0.43 earnings per share. equities analysts forecast that Trustmark Corp will post 2.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, February 28th. Trustmark’s dividend payout ratio is currently 50.83%.
TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/03/13/bank-of-new-york-mellon-corp-has-38-29-million-stake-in-trustmark-corp-trmk.html.
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corp (NASDAQ:TRMK).
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.