Northern Trust Corp Purchases 38,594 Shares of Trustmark Co. (NASDAQ:TRMK)

Northern Trust Corp grew its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 808,844 shares of the financial services provider's stock after buying an additional 38,594 shares during the period. Northern Trust Corp owned about 1.32% of Trustmark worth $28,609,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC boosted its stake in Trustmark by 4.7% in the fourth quarter. AlphaQuest LLC now owns 10,157 shares of the financial services provider's stock valued at $359,000 after acquiring an additional 456 shares during the period. HB Wealth Management LLC boosted its position in Trustmark by 0.7% during the 4th quarter. HB Wealth Management LLC now owns 74,634 shares of the financial services provider's stock valued at $2,640,000 after purchasing an additional 528 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Trustmark by 1.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider's stock worth $1,920,000 after buying an additional 528 shares during the last quarter. Element Wealth LLC grew its stake in Trustmark by 6.3% during the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider's stock worth $319,000 after buying an additional 533 shares during the last quarter. Finally, Swiss National Bank increased its position in Trustmark by 0.7% in the fourth quarter. Swiss National Bank now owns 114,400 shares of the financial services provider's stock worth $4,046,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 67.64% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRMK. Keefe, Bruyette & Woods reduced their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. DA Davidson increased their price objective on 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 target price 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, Janney Montgomery Scott began coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 price objective for the company. Four research 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 an average rating of "Hold" and a consensus price target of $39.80.

Trustmark Trading Down 0.1%

Shares of TRMK traded down $0.05 during midday trading on Friday, hitting $35.97. The stock had a trading volume of 79,192 shares, compared to its average volume of 299,676. 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 $2.18 billion, a P/E ratio of 9.89 and a beta of 0.63. Trustmark Co. has a fifty-two week low of $27.42 and a fifty-two week high of $40.73. The business has a 50-day simple moving average of $33.69 and a two-hundred day simple moving average of $35.69.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its 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 return on equity of 10.12% and a net margin of 19.42%. The company had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. As a group, equities analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be paid a $0.24 dividend. The ex-dividend date 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

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.