Trustmark Co. (NASDAQ:TRMK) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 134.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,831 shares of the financial services provider’s stock after buying an additional 64,766 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Trustmark were worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in Trustmark by 0.8% in the third quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after buying an additional 24,450 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trustmark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock valued at $46,515,000 after acquiring an additional 15,627 shares during the last quarter. Wellington Management Group LLP raised its position 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 valued at $43,175,000 after acquiring an additional 333,390 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Trustmark by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after purchasing an additional 6,683 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Trustmark by 19.8% in the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after purchasing an additional 128,834 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Ratings Changes

TRMK has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Janney Montgomery Scott assumed coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, DA Davidson lifted their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.67.

Trustmark Stock Up 0.2 %

TRMK opened at $35.17 on Wednesday. The stock’s 50 day moving average price is $35.99 and its 200 day moving average price is $35.50. 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 $2.14 billion, a P/E 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.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share 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%. As a group, research analysts predict that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

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

About Trustmark

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.