Trustmark National Bank Trust Department Grows Position in Trustmark Co. (NASDAQ:TRMK)

Trustmark National Bank Trust Department raised its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 129.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299,423 shares of the financial services provider's stock after purchasing an additional 169,011 shares during the period. Trustmark comprises 0.8% of Trustmark National Bank Trust Department's holdings, making the stock its 27th largest position. Trustmark National Bank Trust Department owned about 0.49% of Trustmark worth $10,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Trustmark during the fourth quarter worth about $37,000. Sterling Capital Management LLC grew its holdings in shares of Trustmark by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 1,709 shares during the period. KBC Group NV increased its position in Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Cibc World Markets Corp acquired a new position in Trustmark in the 4th quarter valued at about $201,000. Finally, Blue Trust Inc. grew its stake in shares of Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock valued at $209,000 after buying an additional 943 shares during the period. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Stock Up 0.9 %

Shares of TRMK stock traded up $0.28 during trading hours on Friday, reaching $32.75. 456,968 shares of the stock were exchanged, compared to its average volume of 299,966. Trustmark Co. has a 12-month low of $25.44 and a 12-month high of $40.73. The business's fifty day moving average is $34.51 and its two-hundred day moving average is $35.53. 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 has a market capitalization of $1.99 billion, a P/E ratio of 9.00 and a beta of 0.67.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, research analysts expect that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Friday, February 28th. This is a positive change from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio (DPR) is 26.37%.

Wall Street Analysts Forecast Growth

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