CIBC Asset Management Inc Makes New Investment in Trustmark Co. (NASDAQ:TRMK)

CIBC Asset Management Inc purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,133 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Trustmark during the 3rd quarter worth $63,000. KBC Group NV grew its stake in Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Trustmark in the 3rd quarter valued at $130,000. Arlington Trust Co LLC grew its stake in Trustmark by 77.0% in the 3rd quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock valued at $169,000 after buying an additional 2,309 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Trustmark in the 3rd quarter valued at $170,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Up 0.4 %

Shares of NASDAQ:TRMK opened at $36.19 on Wednesday. Trustmark Co. has a one year low of $25.24 and a one year high of $40.73. The company has a 50 day moving average of $36.15 and a 200-day moving average of $35.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 9.94 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS 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, sell-side analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is presently 26.37%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Hovde Group raised their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Janney Montgomery Scott began coverage on shares of Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson lifted their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.67.

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.