Edgestream Partners L.P. Takes Position in Trustmark Co. (NASDAQ:TRMK)

Edgestream Partners L.P. bought a new stake in Trustmark Co. (NASDAQ:TRMK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 74,986 shares of the financial services provider’s stock, valued at approximately $2,652,000.

A number of other hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Trustmark in the fourth quarter valued at about $1,145,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock valued at $31,649,000 after purchasing an additional 6,683 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Trustmark in the fourth quarter valued at about $37,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Trustmark by 1.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock valued at $1,920,000 after purchasing an additional 528 shares during the period. Finally, BankPlus Trust Department purchased a new stake in shares of Trustmark in the fourth quarter valued at about $842,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Down 0.5 %

Shares of TRMK stock opened at $34.54 on Monday. 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 cap of $2.10 billion, a PE ratio of 9.49 and a beta of 0.71. The company has a 50-day moving average of $36.15 and a two-hundred day moving average of $35.39. Trustmark Co. has a 1-year low of $25.24 and a 1-year high of $40.73.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 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, analysts predict 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. Stockholders of record on Saturday, March 1st will be paid a $0.24 dividend. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. DA Davidson upped their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Janney Montgomery Scott assumed coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.