Trustmark Co. (NASDAQ:TRMK) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 134.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,831 shares of the financial services provider's stock after purchasing an additional 64,766 shares during the period. Thrivent Financial for Lutherans owned about 0.18% of Trustmark worth $3,991,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Trustmark by 0.8% during 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 period. Geode Capital Management LLC boosted its position in Trustmark by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider's stock worth $46,515,000 after purchasing an additional 15,627 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider's stock valued at $43,175,000 after purchasing an additional 333,390 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Trustmark by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock valued at $31,649,000 after purchasing an additional 6,683 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Trustmark by 19.8% in the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider's stock worth $24,766,000 after purchasing an additional 128,834 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

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Trustmark Stock Down 2.4 %

TRMK stock traded down $0.85 during trading on Friday, reaching $34.30. 225,342 shares of the company traded hands, compared to its average volume of 289,202. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 9.42 and a beta of 0.71. 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 business has a 50 day simple moving average of $35.98 and a 200 day simple moving average of $35.53. Trustmark Co. has a 12 month low of $25.41 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly 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 net margin of 19.42% and a return on equity of 10.12%. On average, equities 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 declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio (DPR) is currently 26.37%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Janney Montgomery Scott assumed coverage on shares of Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Finally, DA Davidson upped their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $40.60.

Trustmark Company Profile

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.