Wellington Management Group LLP Invests $12.57 Million in Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP acquired a new stake in Trustmark Co. (NASDAQ:TRMK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 450,917 shares of the financial services provider’s stock, valued at approximately $12,572,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Trustmark in the 4th quarter valued at approximately $5,611,000. Rafferty Asset Management LLC boosted its stake in Trustmark by 79.2% during the fourth quarter. Rafferty Asset Management LLC now owns 68,202 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 30,134 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Trustmark by 14.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 13,989 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,812 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in Trustmark during the fourth quarter worth $1,592,000. Finally, Connable Office Inc. bought a new position in shares of Trustmark in the fourth quarter valued at $446,000. Institutional investors own 67.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Piper Sandler reissued a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. DA Davidson raised their price target on shares of Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.75.

Trustmark Stock Performance

NASDAQ TRMK opened at $28.95 on Thursday. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $31.23. The company has a 50-day simple moving average of $29.24 and a 200 day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $1.77 billion, a PE ratio of 11.26 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The business had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same quarter last year, the company posted $0.82 earnings per share. On average, research analysts predict that Trustmark Co. will post 2.77 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were paid a $0.23 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. Trustmark’s payout ratio is 35.80%.

Trustmark 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.