GRIMES & Co WEALTH MANAGEMENT LLC Invests $811,000 in Trustmark Corporation $TRMK

GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in Trustmark Corporation (NASDAQ:TRMK) in the fourth quarter, Holdings Channel.com reports. The firm purchased 20,822 shares of the financial services provider’s stock, valued at approximately $811,000.

A number of other hedge funds have also recently bought and sold shares of TRMK. Richardson Financial Services Inc. increased its holdings in Trustmark by 86.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Trustmark in the 4th quarter valued at approximately $31,000. Bessemer Group Inc. boosted its stake in shares of Trustmark by 37.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,073 shares of the financial services provider’s stock valued at $42,000 after buying an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Trustmark by 24.1% during the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider’s stock worth $54,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TRMK. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price target on shares of Trustmark in a report on Thursday, April 9th. Hovde Group raised their price objective on shares of Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Brean Capital began coverage on shares of Trustmark in a research report on Thursday, March 12th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $44.00 price target on shares of Trustmark in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.75.

Trustmark Stock Down 0.4%

TRMK stock opened at $44.73 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 11.83 and a beta of 0.66. Trustmark Corporation has a 1-year low of $33.39 and a 1-year high of $45.99. The firm has a fifty day moving average price of $43.23 and a two-hundred day moving average price of $41.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Trustmark had a net margin of 20.12% and a return on equity of 10.74%. The company had revenue of $208.07 million for the quarter, compared to the consensus estimate of $204.98 million. During the same period last year, the firm posted $0.88 EPS. Research analysts predict that Trustmark Corporation will post 3.92 EPS for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark’s dividend payout ratio (DPR) is currently 26.46%.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.