Teacher Retirement System of Texas Purchases 8,349 Shares of Trustmark Co. (NASDAQ:TRMK)

Teacher Retirement System of Texas boosted its position in shares of Trustmark Co. (NASDAQ:TRMK) by 37.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,754 shares of the financial services provider’s stock after acquiring an additional 8,349 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Trustmark worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after acquiring an additional 15,627 shares during the period. Wellington Management Group LLP increased its holdings in shares of Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after acquiring an additional 333,390 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Trustmark by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock valued at $31,649,000 after acquiring an additional 6,683 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Trustmark by 6.8% during 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 purchasing an additional 37,989 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TRMK shares. Keefe, Bruyette & Woods increased 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. Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, DA Davidson raised their price objective 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.60.

Trustmark Stock Performance

NASDAQ TRMK opened at $34.30 on Friday. The firm has a 50-day moving average price of $35.98 and a two-hundred day moving average price of $35.56. Trustmark Co. has a 12-month low of $25.41 and a 12-month high of $40.73. The company has a market capitalization of $2.09 billion, a P/E ratio of 9.42 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Analysts anticipate that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is 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.