Trustmark Co. (NASDAQ:TRMK) Stake Lowered by American Century Companies Inc.

American Century Companies Inc. trimmed its position in shares of Trustmark Co. (NASDAQ:TRMK) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,365 shares of the financial services provider’s stock after selling 231,341 shares during the period. American Century Companies Inc. owned about 1.21% of Trustmark worth $26,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Trustmark during the 3rd quarter worth about $338,000. The Manufacturers Life Insurance Company lifted 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 valued at $1,048,000 after acquiring an additional 2,137 shares during the last quarter. Quantbot Technologies LP bought a new stake in Trustmark in the third quarter worth approximately $327,000. FMR LLC increased its stake in shares of Trustmark by 143.4% during the 3rd 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Trustmark by 93.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,767 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 11,477 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Down 2.4 %

Shares of NASDAQ:TRMK opened at $34.30 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day moving average is $35.98 and its 200-day moving average is $35.56. The company has a market cap of $2.09 billion, a P/E ratio of 9.42 and a beta of 0.71. Trustmark Co. has a 52-week low of $25.41 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, February 28th. Trustmark’s dividend payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, DA Davidson boosted their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.60.

Trustmark 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.