Teacher Retirement System of Texas raised its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 37.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,754 shares of the financial services provider's stock after acquiring an additional 8,349 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.05% of Trustmark worth $1,088,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Trustmark in the fourth quarter worth $37,000. KBC Group NV grew its position in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after buying an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Trustmark in the 3rd quarter worth about $130,000. Point72 DIFC Ltd bought a new stake in Trustmark during the third quarter worth about $170,000. Finally, Cibc World Markets Corp bought a new stake in Trustmark during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 67.64% of the company's stock.
Trustmark Stock Up 0.2 %
NASDAQ TRMK traded up $0.08 during mid-day trading on Wednesday, reaching $34.59. The stock had a trading volume of 281,500 shares, compared to its average volume of 288,938. The company has a fifty day moving average price of $35.94 and a 200 day moving average price of $35.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a 1 year low of $25.41 and a 1 year high of $40.73. The stock has a market cap of $2.10 billion, a PE ratio of 9.50 and a beta of 0.71.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, research analysts expect that Trustmark Co. will post 3.42 earnings per share 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. 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 payout ratio is presently 26.37%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They set a "buy" rating and a $42.00 target price for the company. 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. Finally, 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. 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, the stock has a consensus rating of "Hold" and an average target price of $40.60.
Check Out Our Latest Stock Analysis on Trustmark
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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