Headlands Technologies LLC Raises Stock Position in Trustmark Co. (NASDAQ:TRMK)

Headlands Technologies LLC lifted its position in shares of Trustmark Co. (NASDAQ:TRMK) by 736.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,224 shares of the financial services provider’s stock after acquiring an additional 16,045 shares during the quarter. Headlands Technologies LLC’s holdings in Trustmark were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position 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 in the last quarter. State Street Corp raised its stake 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 worth $98,355,000 after buying an additional 24,450 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Trustmark by 82.2% in the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after buying an additional 1,115,708 shares in the last quarter. Geode Capital Management LLC grew its stake in Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after acquiring an additional 15,627 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 6,683 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Ratings Changes

TRMK has been the topic of several research reports. Keefe, Bruyette & Woods increased their price target 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. DA Davidson raised their price target on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Janney Montgomery Scott assumed coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Trustmark has a consensus rating of “Hold” and an average price target of $40.60.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $34.59 on Thursday. The business has a fifty day simple moving average of $35.94 and a 200-day simple moving average of $35.62. Trustmark Co. has a 52 week low of $25.41 and a 52 week high of $40.73. The company has a market cap of $2.10 billion, a P/E ratio of 9.50 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating 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%. Equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend 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%.

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.