Principal Financial Group Inc. lessened its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,932 shares of the financial services provider's stock after selling 7,037 shares during the quarter. Principal Financial Group Inc. owned approximately 0.97% of Trustmark worth $20,937,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in Trustmark by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider's stock worth $552,000 after buying an additional 415 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of 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. Blue Trust Inc. boosted its position in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock valued at $209,000 after acquiring an additional 943 shares in the last quarter. KBC Group NV increased its stake in Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 951 shares during the period. Finally, Legacy Wealth Management LLC MS raised its position in Trustmark by 10.3% in the third quarter. Legacy Wealth Management LLC MS now owns 10,700 shares of the financial services provider's stock worth $340,000 after purchasing an additional 1,000 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.
Trustmark Stock Up 1.4 %
Shares of NASDAQ TRMK traded up $0.49 during trading hours on Friday, hitting $36.59. The company had a trading volume of 293,366 shares, compared to its average volume of 281,687. The stock has a market capitalization of $2.22 billion, a P/E ratio of 10.05 and a beta of 0.76. Trustmark Co. has a 1-year low of $25.24 and a 1-year high of $40.73. The firm's 50 day moving average is $36.21 and its 200-day moving average is $35.20. 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 (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS 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%. On average, analysts expect that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.
Trustmark Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark's dividend payout ratio (DPR) is presently 26.37%.
Analysts Set New Price Targets
A number of brokerages have weighed in on TRMK. Keefe, Bruyette & Woods upped their price target on Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Janney Montgomery Scott initiated coverage on Trustmark in a research note on Friday, January 24th. They issued a "buy" rating and a $42.00 target price for the company. Finally, DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Five 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 stock currently has an average rating of "Hold" and a consensus target price of $38.67.
View 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.
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