Envestnet Asset Management Inc. Buys 9,475 Shares of Trustmark Co. (NASDAQ:TRMK)

Envestnet Asset Management Inc. lifted its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,316 shares of the financial services provider's stock after purchasing an additional 9,475 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of Trustmark worth $7,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in Trustmark in the fourth quarter valued at about $37,000. KBC Group NV lifted its holdings in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after buying an additional 951 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Trustmark in the 4th quarter valued at approximately $201,000. Blue Trust Inc. increased its holdings in Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after buying an additional 943 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Trustmark during the fourth quarter valued at approximately $217,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRMK. DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Trustmark presently has a consensus rating of "Hold" and a consensus price target of $39.80.

Trustmark Stock Performance

NASDAQ:TRMK traded down $0.42 during midday trading on Friday, reaching $33.05. The stock had a trading volume of 40,861 shares, compared to its average volume of 299,314. The stock has a market capitalization of $2.01 billion, a P/E ratio of 9.08 and a beta of 0.67. Trustmark Co. has a 1-year low of $27.42 and a 1-year high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm's fifty day simple moving average is $34.14 and its 200-day simple moving average is $35.59.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. The company had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. On average, equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.90%. Trustmark's dividend payout ratio (DPR) is presently 26.37%.

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.