Raymond James Trust N.A. acquired a new position in shares of Trustmark Co. (NASDAQ:TRMK – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,325 shares of the financial services provider’s stock, valued at approximately $439,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in shares of Trustmark by 44.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 42,347 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 12,956 shares in the last quarter. Baird Financial Group Inc. lifted its position in Trustmark by 26.9% in the 2nd quarter. Baird Financial Group Inc. now owns 23,153 shares of the financial services provider’s stock valued at $676,000 after acquiring an additional 4,914 shares in the last quarter. Maple Capital Management Inc. bought a new position in Trustmark in the 2nd quarter valued at about $678,000. State of Alaska Department of Revenue lifted its position in Trustmark by 8.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 46,476 shares of the financial services provider’s stock valued at $1,356,000 after acquiring an additional 3,470 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new position in Trustmark in the 2nd quarter valued at about $61,000. Institutional investors own 65.83% of the company’s stock.
Trustmark Price Performance
Trustmark stock opened at $35.16 on Friday. Trustmark Co. has a 52 week low of $26.67 and a 52 week high of $38.47. The company’s 50 day moving average price is $35.44 and its two-hundred day moving average price is $33.35. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.14 billion, a P/E ratio of 16.43 and a beta of 0.86.
Trustmark (NASDAQ:TRMK – Get Rating) last posted its earnings results on Tuesday, October 25th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Trustmark had a net margin of 19.12% and a return on equity of 8.17%. The firm had revenue of $191.69 million for the quarter, compared to analysts’ expectations of $177.20 million. On average, equities analysts predict that Trustmark Co. will post 2.54 earnings per share for the current year.
Trustmark Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. Trustmark’s payout ratio is currently 42.99%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on TRMK. Hovde Group raised their price target on shares of Trustmark to $38.00 in a research report on Tuesday, November 1st. StockNews.com began coverage on shares of Trustmark in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, DA Davidson began coverage on shares of Trustmark in a research report on Monday, January 9th. They set a “neutral” rating and a $38.00 target price on the stock.
Trustmark Profile
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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.
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