Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Trustmark Co. (NASDAQ:TRMK)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Trustmark Co. (NASDAQ:TRMK) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,818 shares of the financial services provider’s stock after purchasing an additional 1,449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trustmark were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRMK. Ignite Planners LLC lifted its stake in shares of Trustmark by 924.4% in the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after buying an additional 128,623 shares in the last quarter. Trexquant Investment LP boosted its stake in Trustmark by 235.7% during the 3rd quarter. Trexquant Investment LP now owns 87,162 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 61,194 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Trustmark by 28.8% in the 3rd quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after purchasing an additional 83,181 shares in the last quarter. MQS Management LLC bought a new stake in shares of Trustmark in the 3rd quarter worth $283,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Trustmark by 244.2% in the third quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after purchasing an additional 124,890 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TRMK shares. DA Davidson boosted their target price on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Truist Financial lifted their target price on shares of Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Finally, StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.75.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $30.86 on Friday. Trustmark Co. has a 12-month low of $18.96 and a 12-month high of $31.12. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.01 and a beta of 0.78. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $27.22 and a 200 day moving average of $25.85.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The firm had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, research analysts anticipate that Trustmark Co. will post 2.79 earnings per share for the current year.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.98%. Trustmark’s payout ratio is currently 35.80%.

Trustmark Company 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.