Geode Capital Management LLC lowered its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,446,063 shares of the financial services provider's stock after selling 15,482 shares during the period. Geode Capital Management LLC owned approximately 2.36% of Trustmark worth $51,159,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in shares of Trustmark by 4.7% in the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock worth $359,000 after buying an additional 456 shares in the last quarter. HB Wealth Management LLC increased its holdings in Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider's stock worth $2,640,000 after acquiring an additional 528 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in 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 purchasing an additional 528 shares in the last quarter. Element Wealth LLC boosted its holdings in Trustmark by 6.3% in the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 533 shares during the period. Finally, Swiss National Bank grew its position in shares of Trustmark by 0.7% during the 4th quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock valued at $4,046,000 after purchasing an additional 800 shares in the last quarter. 67.64% of the stock is owned by institutional investors.
Trustmark Price Performance
Shares of NASDAQ TRMK traded up $0.28 during trading hours on Friday, reaching $32.75. 456,968 shares of the stock traded hands, compared to its average volume of 299,768. The company has a market capitalization of $1.99 billion, a P/E ratio of 9.00 and a beta of 0.67. The company's 50-day simple moving average is $34.51 and its two-hundred day simple moving average is $35.53. 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 Co. has a 52-week low of $25.62 and a 52-week high of $40.73.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.42% and a return on equity of 10.12%. Equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.
Trustmark Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. This is an increase from Trustmark's previous quarterly dividend of $0.23. Trustmark's payout ratio is currently 26.37%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on TRMK. Keefe, Bruyette & Woods lifted 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. DA Davidson lifted their price target on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a research note on Friday, January 24th. They issued a "buy" rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.60.
Check Out Our Latest Analysis on TRMK
About Trustmark
(
Free Report)
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
Before you consider Trustmark, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Trustmark wasn't on the list.
While Trustmark currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
