KLP Kapitalforvaltning AS Buys New Stake in Trustmark Co. (NASDAQ:TRMK)

KLP Kapitalforvaltning AS acquired a new position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,100 shares of the financial services provider's stock, valued at approximately $428,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock valued at $98,355,000 after acquiring an additional 24,450 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock valued at $46,515,000 after purchasing an additional 15,627 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider's stock worth $43,175,000 after purchasing an additional 333,390 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Trustmark by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock valued at $31,649,000 after buying an additional 6,683 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock valued at $19,059,000 after buying an additional 37,989 shares during the period. 67.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRMK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Trustmark from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. DA Davidson raised their price target on shares of 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 shares of Trustmark in a research report on Friday, January 24th. They issued a "buy" rating and a $42.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.60.

Trustmark Stock Performance

TRMK stock traded up $2.09 during trading on Wednesday, reaching $32.88. The company had a trading volume of 722,550 shares, compared to its average volume of 296,198. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 9.03 and a beta of 0.67. Trustmark Co. has a twelve month low of $25.41 and a twelve month high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a 50-day simple moving average of $35.24 and a 200-day simple moving average of $35.54.

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, 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%. As a group, sell-side analysts expect that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.92%. This is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. 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.