Trexquant Investment LP raised its stake in Trustmark Co. (NASDAQ:TRMK - Free Report) by 186.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,203 shares of the financial services provider's stock after buying an additional 17,057 shares during the period. Trexquant Investment LP's holdings in Trustmark were worth $927,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock worth $87,454,000 after acquiring an additional 1,115,708 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Trustmark by 176.2% in the fourth quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider's stock worth $12,014,000 after purchasing an additional 216,706 shares during the last quarter. Norges Bank purchased a new stake in Trustmark during the fourth quarter valued at about $5,704,000. Edgestream Partners L.P. bought a new position in shares of Trustmark during the fourth quarter valued at about $2,652,000. Finally, Barclays PLC increased its holdings in shares of Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock worth $4,001,000 after buying an additional 69,779 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.
Trustmark Stock Performance
NASDAQ:TRMK traded down $0.23 during trading hours on Wednesday, reaching $32.14. The company had a trading volume of 14,505 shares, compared to its average volume of 297,461. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 52 week low of $25.41 and a 52 week high of $40.73. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 8.82 and a beta of 0.67. The firm's 50 day moving average price is $34.73 and its 200-day moving average price is $35.54.
Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating 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, analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.
Trustmark Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid 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 dividend on an annualized basis and a dividend yield of 2.99%. Trustmark's payout ratio is 26.37%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased 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. DA Davidson increased their target price on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a research report on Friday, January 24th. They issued a "buy" rating and a $42.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $40.60.
View Our Latest Report 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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