JPMorgan Chase & Co. raised its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 176.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,662 shares of the financial services provider's stock after buying an additional 216,706 shares during the period. JPMorgan Chase & Co. owned about 0.56% of Trustmark worth $12,014,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Trustmark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider's stock worth $236,493,000 after purchasing an additional 30,057 shares during the last quarter. State Street Corp grew its position in shares of Trustmark by 0.8% in 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 buying an additional 24,450 shares during the last quarter. Geode Capital Management LLC raised its stake in Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock worth $46,515,000 after acquiring an additional 15,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock valued at $31,649,000 after acquiring an additional 6,683 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after purchasing an additional 37,989 shares during the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TRMK has been the subject of a number of research analyst reports. Janney Montgomery Scott initiated coverage on Trustmark in a research report on Friday, January 24th. They issued a "buy" rating and a $42.00 target price for the company. DA Davidson upped their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price objective 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.60.
Read Our Latest Research Report on TRMK
Trustmark Stock Performance
Shares of Trustmark stock traded up $0.28 on Friday, reaching $32.75. 456,968 shares of the stock were exchanged, compared to its average volume of 299,768. The firm has a market capitalization of $1.99 billion, a PE ratio of 9.00 and a beta of 0.67. Trustmark Co. has a 1-year low of $25.62 and a 1-year high of $40.73. The business has a fifty day moving average price of $34.51 and a two-hundred day moving average price of $35.53. 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 (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, research analysts anticipate that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.
Trustmark Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.24 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.93%. This is an increase from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio (DPR) is 26.37%.
Trustmark 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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