Vanguard Group Inc. Acquires 30,057 Shares of Trustmark Co. (NASDAQ:TRMK)

Vanguard Group Inc. grew its holdings in Trustmark Co. (NASDAQ:TRMK) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 6,686,247 shares of the financial services provider’s stock after buying an additional 30,057 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Trustmark worth $236,493,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. LPL Financial LLC raised its stake in Trustmark by 25.0% in the fourth quarter. LPL Financial LLC now owns 64,387 shares of the financial services provider’s stock worth $2,277,000 after buying an additional 12,890 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Trustmark in the 4th quarter valued at $428,000. Teacher Retirement System of Texas lifted its stake in shares of Trustmark by 37.3% during the 4th quarter. Teacher Retirement System of Texas now owns 30,754 shares of the financial services provider’s stock worth $1,088,000 after purchasing an additional 8,349 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Trustmark by 134.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 112,831 shares of the financial services provider’s stock valued at $3,991,000 after purchasing an additional 64,766 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in Trustmark in the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

TRMK opened at $30.82 on Friday. The company has a market cap of $1.87 billion, a P/E ratio of 8.47 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. The firm’s 50-day moving average price is $35.78 and its 200-day moving average price is $35.59. Trustmark Co. has a 52-week low of $25.41 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last posted 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 net margin of 19.42% and a return on equity of 10.12%. As a group, equities analysts anticipate that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.11%. This is a boost from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

TRMK has been the subject of several analyst reports. Janney Montgomery Scott began coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company. DA Davidson increased their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.60.

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.