Charles Schwab Investment Management Inc. Purchases 6,683 Shares of Trustmark Co. (NASDAQ:TRMK)

Charles Schwab Investment Management Inc. grew its position in shares of Trustmark Co. (NASDAQ:TRMK) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 894,807 shares of the financial services provider’s stock after buying an additional 6,683 shares during the period. Charles Schwab Investment Management Inc. owned 1.46% of Trustmark worth $31,649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in Trustmark by 0.7% during the fourth 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 last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Trustmark by 1.0% in 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 period. Element Wealth LLC grew its stake in Trustmark by 6.3% in the 4th quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock valued at $319,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. grew its stake in Trustmark by 19.0% in the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after buying an additional 943 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Trading Up 3.0 %

Shares of TRMK stock opened at $34.11 on Monday. The business has a 50-day moving average price of $35.96 and a two-hundred day moving average price of $35.44. Trustmark Co. has a 12-month low of $25.41 and a 12-month high of $40.73. 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 firm has a market cap of $2.07 billion, a P/E ratio of 9.37 and a beta of 0.71.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Equities analysts anticipate that Trustmark Co. will post 3.42 EPS for the current fiscal 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 given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.81%. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRMK. Keefe, Bruyette & Woods raised their price target on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. DA Davidson lifted their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Janney Montgomery Scott started 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus target price of $38.67.

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.