Raymond James Financial Inc. purchased a new stake in Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,372 shares of the financial services provider's stock, valued at approximately $1,145,000. Raymond James Financial Inc. owned about 0.05% of Trustmark at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Trustmark by 6.9% in the third quarter. The Manufacturers Life Insurance Company now owns 32,926 shares of the financial services provider's stock valued at $1,048,000 after purchasing an additional 2,137 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Trustmark in the 3rd quarter valued at $327,000. FMR LLC increased its position in shares of Trustmark by 143.4% in the 3rd quarter. FMR LLC now owns 6,851 shares of the financial services provider's stock valued at $218,000 after buying an additional 4,036 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Trustmark by 93.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,767 shares of the financial services provider's stock worth $756,000 after buying an additional 11,477 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Trustmark by 11.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,991 shares of the financial services provider's stock worth $413,000 after acquiring an additional 1,381 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on TRMK shares. Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 price target for the company. DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.60.
View Our Latest Research Report on Trustmark
Trustmark Stock Down 0.4 %
Trustmark stock traded down $0.11 during midday trading on Tuesday, reaching $30.79. The stock had a trading volume of 557,419 shares, compared to its average volume of 294,169. Trustmark Co. has a 1-year low of $25.41 and a 1-year 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's fifty day simple moving average is $35.42 and its 200-day simple moving average is $35.56. The stock has a market capitalization of $1.87 billion, a P/E ratio of 8.46 and a beta of 0.67.
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, 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%. As a group, analysts expect that Trustmark Co. will post 3.42 EPS for the current fiscal 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. This is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 3.12%. Trustmark's dividend payout ratio (DPR) is presently 26.37%.
Trustmark Company Profile
(
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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