Swiss National Bank Acquires 800 Shares of Trustmark Co. (NASDAQ:TRMK)

Swiss National Bank boosted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,400 shares of the financial services provider’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank owned 0.19% of Trustmark worth $4,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMK. Wellington Management Group LLP lifted its stake in Trustmark by 32.6% during the third quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after purchasing an additional 333,390 shares during the period. Verition Fund Management LLC increased its holdings in shares of Trustmark by 19.8% in the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock valued at $24,766,000 after purchasing an additional 128,834 shares in the last quarter. Edgestream Partners L.P. bought a new position in Trustmark in the 4th quarter worth approximately $2,652,000. Barclays PLC lifted its holdings in Trustmark by 124.7% during the 3rd 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Trustmark by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRMK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Finally, DA Davidson raised their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.67.

Trustmark Stock Up 0.2 %

Shares of TRMK stock opened at $35.17 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 9.66 and a beta of 0.71. Trustmark Co. has a 12-month low of $25.41 and a 12-month high of $40.73. The firm has a fifty day moving average of $35.99 and a 200-day moving average of $35.50.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities research analysts predict that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is currently 26.37%.

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.