Wellington Management Group LLP Purchases 1,115,708 Shares of Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP boosted its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 82.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,472,561 shares of the financial services provider's stock after purchasing an additional 1,115,708 shares during the quarter. Wellington Management Group LLP owned about 4.04% of Trustmark worth $87,454,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Trustmark during the 4th quarter worth $37,000. KBC Group NV boosted its holdings in Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after acquiring an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Trustmark during the 3rd quarter worth $130,000. Point72 DIFC Ltd purchased a new position in Trustmark during the 3rd quarter worth $170,000. Finally, Cibc World Markets Corp purchased a new position in Trustmark during the 4th quarter worth $201,000. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Trading Down 5.8 %

TRMK stock traded down $1.91 during midday trading on Thursday, hitting $30.97. The company had a trading volume of 49,853 shares, compared to its average volume of 295,255. 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 stock's 50 day moving average price is $35.24 and its 200 day moving average price is $35.54. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 8.54 and a beta of 0.67.

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

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. Trustmark's dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

TRMK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Trustmark from $45.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Janney Montgomery Scott initiated coverage on Trustmark in a research note on Friday, January 24th. They set a "buy" rating and a $42.00 target price on the stock. Finally, DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $40.60.

About Trustmark

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.