Brandywine Global Investment Management LLC Cuts Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Brandywine Global Investment Management LLC lowered its position in Trustmark Co. (NASDAQ:TRMK) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,154 shares of the financial services provider’s stock after selling 1,000 shares during the period. Brandywine Global Investment Management LLC’s holdings in Trustmark were worth $819,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Trustmark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock worth $236,493,000 after acquiring an additional 30,057 shares during the period. State Street Corp raised its stake in shares of Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after purchasing an additional 24,450 shares during the period. Geode Capital Management LLC grew its position in Trustmark by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after buying an additional 15,627 shares during the period. Wellington Management Group LLP increased its holdings in Trustmark by 32.6% during the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after buying an additional 333,390 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after acquiring an additional 6,683 shares during the period. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

NASDAQ TRMK opened at $31.85 on Friday. The company’s 50 day moving average is $35.87 and its 200-day moving average is $35.60. The firm has a market cap of $1.94 billion, a P/E ratio of 8.75 and a beta of 0.71. Trustmark Co. has a 12-month low of $25.41 and a 12-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.

Trustmark (NASDAQ:TRMK) last issued 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 net margin of 19.42% and a return on equity of 10.12%. Sell-side analysts predict that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.01%. Trustmark’s dividend payout ratio is 26.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRMK shares. Keefe, Bruyette & Woods increased their target price on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson increased their price objective on 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 assumed coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and an average price target of $40.60.

About Trustmark

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.