Koch Industries Inc. purchased a new stake in shares of Trustmark Corp (NASDAQ:TRMK) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 9,874 shares of the financial services provider’s stock, valued at approximately $315,000.
Several other hedge funds have also modified their holdings of the company. Landscape Capital Management L.L.C. purchased a new position in shares of Trustmark during the fourth quarter valued at $292,000. BancorpSouth Bank purchased a new position in shares of Trustmark during the fourth quarter valued at $779,000. Eaton Vance Management purchased a new position in shares of Trustmark during the fourth quarter valued at $1,943,000. Arizona State Retirement System grew its holdings in shares of Trustmark by 27.1% during the fourth quarter. Arizona State Retirement System now owns 48,758 shares of the financial services provider’s stock valued at $1,553,000 after buying an additional 10,399 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Trustmark by 8.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 179,811 shares of the financial services provider’s stock valued at $5,729,000 after buying an additional 13,460 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.
Trustmark Corp (NASDAQ:TRMK) opened at $33.02 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. Trustmark Corp has a 52 week low of $28.16 and a 52 week high of $35.09. The company has a market capitalization of $2,273.26, a PE ratio of 21.30 and a beta of 1.08.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.23 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. Trustmark’s dividend payout ratio (DPR) is currently 59.35%.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Trustmark from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Saturday, January 13th. BidaskClub upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Stephens reiterated a “hold” rating and set a $34.00 price target on shares of Trustmark in a report on Thursday, January 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of Trustmark in a report on Thursday, January 25th. Finally, SunTrust Banks reiterated a “hold” rating and set a $38.00 price target on shares of Trustmark in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.50.
WARNING: This news story was posted by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.themarketsdaily.com/2018/03/14/koch-industries-inc-takes-position-in-trustmark-corp-trmk.html.
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corp (NASDAQ:TRMK).
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.