Wellington Management Group LLP Buys 1,115,708 Shares of Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP raised its stake in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 82.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,472,561 shares of the financial services provider's stock after purchasing an additional 1,115,708 shares during the period. Wellington Management Group LLP owned approximately 4.07% of Trustmark worth $87,454,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Trustmark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider's stock valued at $236,493,000 after purchasing an additional 30,057 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 worth $31,649,000 after buying an additional 6,683 shares in the last quarter. Northern Trust Corp lifted its position in shares of Trustmark by 5.0% during the 4th quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider's stock worth $28,609,000 after buying an additional 38,594 shares in the last quarter. Invesco Ltd. lifted its position in shares of Trustmark by 1.9% during 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 in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Trustmark by 3.0% during the 4th quarter. Federated Hermes Inc. now owns 339,877 shares of the financial services provider's stock worth $12,021,000 after buying an additional 9,832 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of NASDAQ:TRMK traded down $0.17 during mid-day trading on Monday, reaching $34.29. The company had a trading volume of 325,018 shares, compared to its average volume of 305,020. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 9.42 and a beta of 0.63. The company's 50-day moving average price is $33.89 and its 200-day moving average price is $35.50. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73.

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

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. Trustmark's dividend payout ratio (DPR) is presently 25.00%.

Analysts Set New Price Targets

Several equities analysts have commented on TRMK shares. Hovde Group lifted their target price 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. Wall Street Zen cut shares of Trustmark from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.80.

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.