CIBC Asset Management Inc Buys Shares of 6,133 Trustmark Co. (NASDAQ:TRMK)

CIBC Asset Management Inc purchased a new stake in Trustmark Co. (NASDAQ:TRMK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,133 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in Trustmark during the 3rd quarter worth approximately $63,000. KBC Group NV lifted its position in shares of Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Trustmark in the 3rd quarter valued at $130,000. Arlington Trust Co LLC increased its stake in shares of Trustmark by 77.0% in the 3rd quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Trustmark in the 3rd quarter valued at $170,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Up 0.4 %

Shares of TRMK opened at $36.19 on Wednesday. The business’s 50-day moving average price is $36.15 and its 200-day moving average price is $35.19. Trustmark Co. has a twelve month low of $25.24 and a twelve month high of $40.73. The stock has a market cap of $2.20 billion, a PE ratio of 9.94 and a beta of 0.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted 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 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 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.24 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analyst Weigh In

A number of analysts have commented on TRMK shares. DA Davidson boosted their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Hovde Group boosted their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.67.

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.