Millennium Management LLC Grows Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Millennium Management LLC raised its holdings in Trustmark Co. (NASDAQ:TRMK - Free Report) by 112.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,786 shares of the financial services provider's stock after buying an additional 92,890 shares during the period. Millennium Management LLC owned approximately 0.29% of Trustmark worth $6,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark in the 4th quarter valued at $37,000. Lazard Asset Management LLC acquired a new stake in Trustmark during the 4th quarter worth $47,000. Sterling Capital Management LLC raised its stake in Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after acquiring an additional 1,709 shares in the last quarter. KBC Group NV raised its stake 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 in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Trustmark during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 67.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on TRMK. Hovde Group lifted their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. 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. Finally, Wall Street Zen lowered shares of Trustmark from a "buy" rating to a "hold" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $39.80.

Trustmark Stock Performance

NASDAQ TRMK traded down $0.27 during trading on Friday, reaching $34.55. The company's stock had a trading volume of 267,266 shares, compared to its average volume of 304,940. 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 $2.09 billion, a price-to-earnings ratio of 9.49 and a beta of 0.63. Trustmark Co. has a twelve month low of $27.42 and a twelve month high of $40.73. The business's fifty day moving average price is $33.91 and its 200-day moving average price is $35.53.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, analysts anticipate that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

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 issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark's payout ratio is 25.00%.

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.