Norges Bank bought a new stake in Trustmark Co. (NASDAQ:TRMK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 161,277 shares of the financial services provider's stock, valued at approximately $5,704,000. Norges Bank owned approximately 0.26% of Trustmark as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of TRMK. Barclays PLC increased its position in shares of Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock valued at $4,001,000 after buying an additional 69,779 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after acquiring an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Trustmark by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider's stock worth $3,912,000 after purchasing an additional 11,934 shares during the period. State Street Corp lifted its holdings in shares of Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider's stock valued at $98,355,000 after purchasing an additional 24,450 shares in the last quarter. Finally, Geode Capital Management LLC grew its position 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 during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
TRMK has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped 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. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday, January 24th. They set a "buy" rating and a $42.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.60.
View Our Latest Stock Analysis on Trustmark
Trustmark Stock Performance
Trustmark stock traded up $0.69 during mid-day trading on Tuesday, hitting $32.38. 29,236 shares of the company's stock traded hands, compared to its average volume of 297,632. 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 has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $35.57. Trustmark Co. has a fifty-two week low of $25.41 and a fifty-two week high of $40.73. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.90 and a beta of 0.67.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, research analysts expect that Trustmark Co. will post 3.42 EPS for the current fiscal year.
Trustmark Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.24 per share. This is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.96%. Trustmark's dividend payout ratio (DPR) is presently 26.37%.
Trustmark Profile
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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.
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