Thrivent Financial for Lutherans Boosts Holdings in Trustmark Co. (NASDAQ:TRMK)

Thrivent Financial for Lutherans lifted its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 134.7% 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 112,831 shares of the financial services provider's stock after buying an additional 64,766 shares during the quarter. Thrivent Financial for Lutherans owned 0.18% of Trustmark worth $3,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRMK. Cibc World Markets Corp purchased a new stake in shares of Trustmark during the 4th quarter worth $201,000. Swiss National Bank lifted its stake in shares of Trustmark by 0.7% in the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock valued at $4,046,000 after purchasing an additional 800 shares during the period. AlphaQuest LLC boosted its holdings in Trustmark by 4.7% during the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock worth $359,000 after buying an additional 456 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Trustmark during the fourth quarter worth about $2,652,000. Finally, Raymond James Financial Inc. purchased a new position in Trustmark in the fourth quarter valued at about $1,145,000. Institutional investors and hedge funds own 67.64% of the company's stock.

Wall Street Analyst Weigh In

TRMK has been the topic of several research analyst reports. Janney Montgomery Scott assumed coverage on Trustmark in a research note on Friday, January 24th. They set a "buy" rating and a $42.00 price target on the stock. DA Davidson boosted 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, Keefe, Bruyette & Woods upped their target price on Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $40.60.

Trustmark Price Performance

NASDAQ:TRMK traded down $0.85 during trading hours 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 debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm's 50-day moving average is $35.98 and its 200-day moving average is $35.56. The stock has a market cap of $2.09 billion, a P/E ratio of 9.42 and a beta of 0.71. Trustmark Co. has a 1-year low of $25.41 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share 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%. Equities research analysts expect that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed 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 an increase 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 annualized dividend and a dividend yield of 2.80%. Trustmark's dividend payout ratio is presently 26.37%.

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.