Prudential Financial Inc. Acquires 896 Shares of Trustmark Co. (NASDAQ:TRMK)

Prudential Financial Inc. grew its holdings in Trustmark Co. (NASDAQ:TRMK) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,730 shares of the financial services provider’s stock after acquiring an additional 896 shares during the period. Prudential Financial Inc.’s holdings in Trustmark were worth $3,881,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TRMK. Barclays PLC increased its position in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trustmark by 10.7% in the 3rd 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 in the last quarter. State Street Corp lifted its holdings 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 worth $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in 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 during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRMK shares. Keefe, Bruyette & Woods lifted their price target 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. Janney Montgomery Scott assumed 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. Finally, DA Davidson raised their price target on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report 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 target price of $40.60.

Trustmark Stock Up 0.1 %

NASDAQ TRMK opened at $34.51 on Wednesday. Trustmark Co. has a twelve month low of $25.41 and a twelve month high of $40.73. 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 stock has a market cap of $2.10 billion, a PE ratio of 9.48 and a beta of 0.71. The firm has a 50-day simple moving average of $35.97 and a 200 day simple moving average of $35.62.

Trustmark (NASDAQ:TRMK) last announced 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 return on equity of 10.12% and a net margin of 19.42%. On average, research analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s payout ratio is 26.37%.

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.