Cibc World Markets Corp Invests $201,000 in Trustmark Co. (NASDAQ:TRMK)

Cibc World Markets Corp bought a new position in Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,694 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other large investors have also bought and sold shares of the business. Barclays PLC boosted its stake in Trustmark by 124.7% in the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after purchasing an additional 69,779 shares in the last quarter. Principal Financial Group Inc. lifted its position in Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after buying an additional 37,989 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Trustmark by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after acquiring an additional 11,934 shares during the last quarter. State Street Corp increased its position in Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after acquiring an additional 24,450 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Trustmark by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after acquiring an additional 15,627 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Stock Up 0.3 %

NASDAQ:TRMK opened at $35.28 on Thursday. 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 Co. has a 12-month low of $25.41 and a 12-month high of $40.73. The stock’s fifty day simple moving average is $36.00 and its 200-day simple moving average is $35.52. The firm has a market capitalization of $2.14 billion, a P/E ratio of 9.69 and a beta of 0.71.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Equities research analysts expect that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Janney Montgomery Scott began coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price for the company. Finally, DA Davidson raised their price target on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.60.

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.