Trustmark National Bank Trust Department Buys 169,011 Shares of Trustmark Co. (NASDAQ:TRMK)

Trustmark National Bank Trust Department lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 129.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 299,423 shares of the financial services provider's stock after acquiring an additional 169,011 shares during the quarter. Trustmark comprises about 0.8% of Trustmark National Bank Trust Department's investment portfolio, making the stock its 27th biggest holding. Trustmark National Bank Trust Department owned 0.49% of Trustmark worth $10,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider's stock worth $87,454,000 after buying an additional 1,115,708 shares during the period. JPMorgan Chase & Co. boosted its stake in Trustmark by 176.2% in the 4th quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider's stock worth $12,014,000 after purchasing an additional 216,706 shares during the period. Norges Bank acquired a new stake in Trustmark during the 4th quarter valued at $5,704,000. Edgestream Partners L.P. purchased a new stake in shares of Trustmark in the fourth quarter valued at $2,652,000. Finally, Barclays PLC boosted its position in shares of Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider's stock worth $4,001,000 after buying an additional 69,779 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TRMK shares. Janney Montgomery Scott assumed coverage on Trustmark in a research report on Friday, January 24th. They set a "buy" rating and a $42.00 price target on the stock. DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Four 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, the company has an average rating of "Hold" and an average target price of $40.60.

Trustmark Price Performance

NASDAQ TRMK traded up $0.28 on Friday, hitting $32.75. 456,968 shares of the company were exchanged, compared to its average volume of 299,768. 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 company has a market cap of $1.99 billion, a P/E ratio of 9.00 and a beta of 0.67. Trustmark Co. has a 1-year low of $25.62 and a 1-year high of $40.73. The firm has a 50 day moving average of $34.51 and a two-hundred day moving average of $35.53.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities analysts predict that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.24 dividend. This is a boost from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.93%. Trustmark's dividend payout ratio (DPR) is currently 26.37%.

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.