74,986 Shares in Trustmark Co. (NASDAQ:TRMK) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in Trustmark Co. (NASDAQ:TRMK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 74,986 shares of the financial services provider's stock, valued at approximately $2,652,000. Edgestream Partners L.P. owned approximately 0.12% of Trustmark at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in Trustmark by 0.7% in the fourth quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider's stock worth $2,640,000 after purchasing an additional 528 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Trustmark by 1.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock worth $1,920,000 after buying an additional 528 shares during the last quarter. Element Wealth LLC boosted its holdings in shares of Trustmark by 6.3% in the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock worth $319,000 after buying an additional 533 shares during the last quarter. Blue Trust Inc. grew its position in Trustmark by 19.0% during the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock valued at $209,000 after buying an additional 943 shares during the period. Finally, KBC Group NV increased its holdings in Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after buying an additional 951 shares during the last quarter. Hedge funds and other institutional investors own 67.64% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have weighed in on TRMK. 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. Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.67.

Trustmark Trading Down 1.4 %

NASDAQ TRMK traded down $0.46 during trading hours on Thursday, hitting $33.12. 305,173 shares of the company were exchanged, compared to its average volume of 261,403. Trustmark Co. has a 52 week low of $25.24 and a 52 week 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. The stock has a 50-day moving average price of $36.01 and a 200 day moving average price of $35.42. The stock has a market cap of $2.01 billion, a PE ratio of 9.10 and a beta of 0.71.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping 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%. Analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio (DPR) is currently 26.37%.

Trustmark Company 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.