Fisher Asset Management LLC Cuts Holdings in Trustmark Corporation $TRMK

Fisher Asset Management LLC cut its stake in Trustmark Corporation (NASDAQ:TRMK) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,263 shares of the financial services provider’s stock after selling 29,578 shares during the quarter. Fisher Asset Management LLC owned about 0.62% of Trustmark worth $14,461,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new stake in shares of Trustmark during the fourth quarter valued at about $31,000. Bessemer Group Inc. grew its stake in Trustmark by 37.4% in the third quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 292 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Trustmark by 452.2% in 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 in the last quarter. IFP Advisors Inc grew its stake in Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 267 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Trustmark in the fourth quarter worth about $76,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TRMK. Piper Sandler lifted their price target on Trustmark from $44.00 to $45.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 target price on shares of Trustmark in a research note on Thursday, April 9th. Hovde Group lifted their price target on Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday, January 29th. DA Davidson reaffirmed a “neutral” rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Finally, Wall Street Zen raised Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.75.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $44.17 on Thursday. Trustmark Corporation has a 12 month low of $33.39 and a 12 month high of $45.99. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 11.69 and a beta of 0.66. The stock’s 50 day moving average price is $43.69 and its 200 day moving average price is $41.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The firm had revenue of $208.07 million for the quarter, compared to analysts’ expectations of $204.98 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities research analysts anticipate that Trustmark Corporation will post 3.92 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Trustmark’s dividend payout ratio is currently 26.46%.

About Trustmark

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.