Wellington Management Group LLP Has $87.45 Million Stake in Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP lifted its stake in Trustmark Co. (NASDAQ:TRMK) by 82.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,472,561 shares of the financial services provider’s stock after purchasing an additional 1,115,708 shares during the period. Wellington Management Group LLP’s holdings in Trustmark were worth $87,454,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its position in Trustmark by 124.7% during the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after purchasing an additional 69,779 shares during the period. Principal Financial Group Inc. lifted its holdings in Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after buying an additional 37,989 shares during the period. JPMorgan Chase & Co. boosted its stake in Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after acquiring an additional 11,934 shares during the last quarter. State Street Corp grew its holdings in Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after acquiring an additional 24,450 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after acquiring an additional 15,627 shares during the period. Institutional investors own 67.64% of the company’s stock.

Analysts Set New Price Targets

TRMK has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Janney Montgomery Scott initiated coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, DA Davidson upped their price target on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.60.

Trustmark Stock Down 3.2 %

NASDAQ:TRMK opened at $30.82 on Friday. Trustmark Co. has a 1 year low of $25.41 and a 1 year high of $40.73. The stock has a 50-day moving average price of $35.78 and a two-hundred day moving average price of $35.59. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 8.47 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its 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 return on equity of 10.12% and a net margin of 19.42%. As a group, equities analysts expect 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 issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

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.