Trustmark Co. (NASDAQ:TRMK) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 134.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,831 shares of the financial services provider’s stock after buying an additional 64,766 shares during the quarter. Thrivent Financial for Lutherans owned about 0.18% of Trustmark worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TRMK. Jones Financial Companies Lllp purchased a new position in shares of Trustmark during the 4th quarter worth about $37,000. KBC Group NV raised 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 worth $112,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Trustmark during the third quarter worth approximately $130,000. Point72 DIFC Ltd acquired a new position in shares of Trustmark in the 3rd quarter valued at $170,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Trustmark during the 4th quarter valued at $201,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Price Performance

TRMK stock opened at $35.17 on Wednesday. The firm has a market cap of $2.14 billion, a P/E ratio of 9.66 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. Trustmark Co. has a 1 year low of $25.41 and a 1 year high of $40.73. The stock has a 50-day simple moving average of $35.99 and a 200-day simple moving average of $35.50.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.24 per share. 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 2.73%. Trustmark’s payout ratio is 26.37%.

Analyst Upgrades and Downgrades

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