BankPlus Trust Department Makes New $842,000 Investment in Trustmark Co. (NASDAQ:TRMK)

BankPlus Trust Department bought a new position in Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,800 shares of the financial services provider’s stock, valued at approximately $842,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after buying an additional 24,450 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Trustmark by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after purchasing an additional 15,627 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Trustmark by 32.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock valued at $43,175,000 after purchasing an additional 333,390 shares during the period. Verition Fund Management LLC raised its holdings in shares of Trustmark by 19.8% during the third quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after acquiring an additional 128,834 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of 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 purchasing an additional 37,989 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Down 2.2 %

TRMK opened at $36.50 on Monday. The company has a 50 day moving average of $36.21 and a 200 day moving average of $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. Trustmark Co. has a 12 month low of $25.24 and a 12 month high of $40.73. The company has a market cap of $2.22 billion, a PE ratio of 10.03 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. On average, sell-side analysts expect that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRMK shares. DA Davidson upped their target price on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Hovde Group upped their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Janney Montgomery Scott began coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price target on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.