Wellington Management Group LLP Acquires 1,115,708 Shares of Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP boosted its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 82.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,472,561 shares of the financial services provider’s stock after purchasing an additional 1,115,708 shares during the quarter. Wellington Management Group LLP owned about 4.04% of Trustmark worth $87,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Trustmark during the fourth quarter valued at about $37,000. KBC Group NV increased its stake in Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Trustmark in the 3rd quarter valued at approximately $130,000. Point72 DIFC Ltd bought a new stake in shares of Trustmark in the 3rd quarter worth approximately $170,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Trustmark during the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Janney Montgomery Scott assumed coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 target price for the company. DA Davidson increased their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.60.

Trustmark Stock Down 3.2 %

Shares of NASDAQ:TRMK opened at $30.82 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 8.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company’s fifty day moving average is $35.78 and its 200-day moving average is $35.59. Trustmark Co. has a 52 week low of $25.41 and a 52 week high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. Equities research analysts predict that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.24 dividend. This is an increase from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 3.11%. Trustmark’s payout ratio is presently 26.37%.

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.