Clark Capital Management Group Inc. increased its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,523 shares of the financial services provider's stock after acquiring an additional 48,139 shares during the quarter. Clark Capital Management Group Inc. owned about 0.33% of Trustmark worth $7,234,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of TRMK. Jones Financial Companies Lllp bought a new position in Trustmark in the fourth quarter valued at approximately $37,000. Sterling Capital Management LLC raised its stake 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 purchasing an additional 1,709 shares during the period. KBC Group NV grew its position in 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 purchasing an additional 951 shares in the last quarter. Cibc World Markets Corp bought a new stake in Trustmark during the 4th quarter worth about $201,000. Finally, Blue Trust Inc. grew its holdings 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 acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TRMK. Keefe, Bruyette & Woods lowered their price target on Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. DA Davidson lifted their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Hovde Group raised their price objective on shares of Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of "Hold" and a consensus price target of $39.80.
Read Our Latest Analysis on TRMK
Trustmark Trading Down 0.9%
Shares of TRMK stock traded down $0.33 during trading hours on Wednesday, hitting $35.92. 151,880 shares of the company were exchanged, compared to its average volume of 298,957. Trustmark Co. has a fifty-two week low of $27.42 and a fifty-two week high of $40.73. 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 firm has a market cap of $2.17 billion, a P/E ratio of 9.87 and a beta of 0.63. The company has a 50 day simple moving average of $33.61 and a two-hundred day simple moving average of $35.68.
Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The business had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. Equities analysts anticipate that Trustmark Co. will post 3.42 EPS for the current year.
Trustmark Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. Trustmark's payout ratio is 25.00%.
Trustmark Company Profile
(
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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