23,800 Shares in Trustmark Co. (NASDAQ:TRMK) Bought by BankPlus Trust Department

BankPlus Trust Department purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 23,800 shares of the financial services provider’s stock, valued at approximately $842,000.

Other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in Trustmark by 2.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock valued at $552,000 after buying an additional 415 shares in the last quarter. 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 in the last quarter. Element Wealth LLC raised 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 purchasing an additional 533 shares during the last quarter. Blue Trust Inc. lifted 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 worth $209,000 after purchasing an additional 943 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 951 shares during the period. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

NASDAQ:TRMK opened at $36.50 on Monday. Trustmark Co. has a twelve month low of $25.24 and a twelve month high of $40.73. The firm’s fifty day simple moving average is $36.21 and its 200 day simple moving average is $35.12. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.03 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities research analysts expect that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.63%. This is a boost from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TRMK shares. Hovde Group increased their target price on Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson raised their price objective on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. 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. Finally, Keefe, Bruyette & Woods boosted their price target on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.67.

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.