Fisher Asset Management LLC Has $12.86 Million Holdings in Trustmark Co. (NASDAQ:TRMK)

Fisher Asset Management LLC lessened its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363,537 shares of the financial services provider’s stock after selling 34,895 shares during the period. Fisher Asset Management LLC owned about 0.59% of Trustmark worth $12,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TRMK. GoalVest Advisory LLC acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $63,000. KBC Group NV boosted its position in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $130,000. Point72 DIFC Ltd acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $170,000. Finally, Blue Trust Inc. boosted its position in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRMK. DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.67.

Trustmark Stock Performance

Shares of Trustmark stock opened at $36.73 on Tuesday. Trustmark Co. has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $2.23 billion, a P/E ratio of 10.09 and a beta of 0.76. The company’s 50 day moving average price is $36.23 and its two-hundred day moving average price is $35.30.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Trustmark Co. will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.61%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) 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.