Earnest Partners LLC lifted its holdings in Trustmark Corp (NASDAQ:TRMK) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,276,914 shares of the financial services provider’s stock after purchasing an additional 221,215 shares during the period. Earnest Partners LLC’s holdings in Trustmark were worth $72,542,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank grew its stake in shares of Trustmark by 2.1% in the 4th quarter. Swiss National Bank now owns 114,200 shares of the financial services provider’s stock worth $3,638,000 after purchasing an additional 2,400 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Trustmark by 6.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 426,128 shares of the financial services provider’s stock worth $14,114,000 after purchasing an additional 26,258 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Trustmark by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 153,912 shares of the financial services provider’s stock worth $5,098,000 after purchasing an additional 11,422 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Trustmark in the 3rd quarter worth approximately $498,000. Finally, Legal & General Group Plc grew its stake in shares of Trustmark by 6.1% in the 3rd quarter. Legal & General Group Plc now owns 87,391 shares of the financial services provider’s stock worth $2,896,000 after purchasing an additional 4,989 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on TRMK. BidaskClub raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. SunTrust Banks lowered their price objective on shares of Trustmark to $33.00 and set an “average” rating on the stock in a research note on Tuesday, January 30th. Zacks Investment Research upgraded shares of Trustmark from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Saturday, January 13th. Stephens reiterated a “hold” rating and issued a $34.00 target price on shares of Trustmark in a report on Thursday, January 25th. Finally, Hovde Group set a $33.00 target price on shares of Trustmark and gave the stock a “hold” rating in a report on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $34.50.
Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. Trustmark had a net margin of 16.15% and a return on equity of 8.35%. The company had revenue of $153.06 million during the quarter, compared to analysts’ expectations of $152.80 million. During the same period last year, the company posted $0.43 earnings per share. sell-side analysts predict that Trustmark Corp will post 2.15 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, February 28th. Trustmark’s payout ratio is 59.35%.
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Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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