Ignite Planners LLC Sells 7,666 Shares of Trustmark Co. (NASDAQ:TRMK)

Ignite Planners LLC reduced its stake in shares of Trustmark Co. (NASDAQ:TRMKGet Rating) by 30.2% during the second quarter, Holdings Channel reports. The institutional investor owned 17,714 shares of the financial services provider’s stock after selling 7,666 shares during the quarter. Ignite Planners LLC’s holdings in Trustmark were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in shares of Trustmark by 8.1% in the second quarter. State of Alaska Department of Revenue now owns 46,476 shares of the financial services provider’s stock worth $1,356,000 after purchasing an additional 3,470 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of Trustmark in the first quarter worth about $3,704,000. Pinz Capital Management LP bought a new stake in shares of Trustmark in the first quarter worth about $1,004,000. Invesco Ltd. grew its stake in shares of Trustmark by 22.1% in the first quarter. Invesco Ltd. now owns 273,109 shares of the financial services provider’s stock worth $8,301,000 after purchasing an additional 49,454 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Trustmark by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 650,188 shares of the financial services provider’s stock worth $19,760,000 after purchasing an additional 18,027 shares during the last quarter. 66.44% of the stock is owned by institutional investors.

Trustmark Trading Down 1.4 %

Shares of NASDAQ TRMK traded down $0.46 during trading hours on Friday, hitting $31.50. The company’s stock had a trading volume of 4,747 shares, compared to its average volume of 220,608. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 0.79. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86. Trustmark Co. has a 12 month low of $26.67 and a 12 month high of $35.30. The business has a 50-day simple moving average of $32.09 and a 200-day simple moving average of $30.39.

Trustmark (NASDAQ:TRMKGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Trustmark had a net margin of 17.01% and a return on equity of 7.15%. The business had revenue of $168.85 million during the quarter, compared to analyst estimates of $158.20 million. During the same period last year, the business posted $0.76 earnings per share. On average, analysts anticipate that Trustmark Co. will post 2.34 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.92 annualized dividend and a yield of 2.92%. Trustmark’s dividend payout ratio (DPR) is presently 51.40%.

About Trustmark

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Trustmark (NASDAQ:TRMK)

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