Raymond James Financial Inc. purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,372 shares of the financial services provider's stock, valued at approximately $1,145,000. Raymond James Financial Inc. owned approximately 0.05% of Trustmark at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Trustmark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider's stock worth $236,493,000 after acquiring an additional 30,057 shares during the period. Wellington Management Group LLP grew its position in shares of Trustmark by 82.2% in the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock valued at $87,454,000 after purchasing an additional 1,115,708 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider's stock valued at $31,649,000 after purchasing an additional 6,683 shares during the period. Principal Financial Group Inc. lifted its position in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider's stock worth $19,059,000 after buying an additional 37,989 shares during the period. Finally, Invesco Ltd. boosted its stake in Trustmark by 1.9% in the 4th quarter. Invesco Ltd. now owns 598,861 shares of the financial services provider's stock worth $21,182,000 after buying an additional 11,081 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on TRMK shares. 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 objective on the stock. Keefe, Bruyette & Woods cut their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Hovde Group boosted their price objective on shares of Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Finally, DA Davidson increased 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Trustmark has an average rating of "Hold" and an average target price of $39.80.
Read Our Latest Stock Report on Trustmark
Trustmark Stock Down 0.3 %
Trustmark stock traded down $0.11 during trading on Friday, reaching $35.12. 150,284 shares of the company's stock were exchanged, compared to its average volume of 298,452. Trustmark Co. has a 52-week low of $27.42 and a 52-week high of $40.73. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 9.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company's 50-day moving average is $33.56 and its two-hundred day moving average is $35.66.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, analysts predict that Trustmark Co. will post 3.42 earnings per share for the current year.
Trustmark Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.73%. Trustmark's dividend payout ratio (DPR) is presently 25.00%.
About Trustmark
(
Free Report)
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.
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