Trustmark National Bank Trust Department Has $10.59 Million Position in Trustmark Co. (NASDAQ:TRMK)

Trustmark National Bank Trust Department increased its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 129.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,423 shares of the financial services provider’s stock after buying an additional 169,011 shares during the period. Trustmark comprises approximately 0.8% of Trustmark National Bank Trust Department’s portfolio, making the stock its 27th largest position. Trustmark National Bank Trust Department’s holdings in Trustmark were worth $10,591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TRMK. Jones Financial Companies Lllp acquired a new position in shares of Trustmark during the fourth quarter worth $37,000. Sterling Capital Management LLC grew its position in shares of Trustmark by 817.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock valued at $68,000 after buying an additional 1,709 shares during the last quarter. KBC Group NV increased its stake in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares during the period. Cibc World Markets Corp bought a new position in shares of Trustmark during the fourth quarter worth about $201,000. Finally, Blue Trust Inc. lifted its stake in shares of Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 943 shares during the period. 67.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRMK has been the subject of several analyst reports. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company. DA Davidson boosted their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods increased their price target on Trustmark from $45.00 to $47.00 and gave the stock 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.60.

Trustmark Trading Up 0.4 %

TRMK opened at $31.22 on Monday. The company has a market cap of $1.90 billion, a P/E ratio of 8.58 and a beta of 0.67. The company has a fifty day moving average price of $34.99 and a two-hundred day moving average price of $35.57. 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 1-year low of $25.41 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced 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 return on equity of 10.12% and a net margin of 19.42%. Analysts predict that Trustmark Co. will post 3.42 EPS 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.07%. 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 payout ratio is 26.37%.

Trustmark 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.