Wellington Management Group LLP Has $87.45 Million Stock Position in Trustmark Co. (NASDAQ:TRMK)

Wellington Management Group LLP grew its position in Trustmark Co. (NASDAQ:TRMK) by 82.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,472,561 shares of the financial services provider’s stock after buying an additional 1,115,708 shares during the quarter. Wellington Management Group LLP’s holdings in Trustmark were worth $87,454,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Trustmark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock worth $236,493,000 after purchasing an additional 30,057 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Trustmark by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after purchasing an additional 6,683 shares in the last quarter. Northern Trust Corp lifted its position in shares of Trustmark by 5.0% in the fourth quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock worth $28,609,000 after purchasing an additional 38,594 shares in the last quarter. Invesco Ltd. lifted its position in shares of Trustmark by 1.9% in the fourth quarter. Invesco Ltd. now owns 598,861 shares of the financial services provider’s stock worth $21,182,000 after purchasing an additional 11,081 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Trustmark by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 339,877 shares of the financial services provider’s stock worth $12,021,000 after purchasing an additional 9,832 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRMK has been the subject of a number of research analyst reports. Hovde Group increased their price target on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. DA Davidson raised their price objective on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.80.

Trustmark Price Performance

Shares of TRMK opened at $34.65 on Thursday. The firm has a market cap of $2.10 billion, a PE ratio of 9.52 and a beta of 0.63. The firm’s 50 day moving average price is $33.93 and its 200 day moving average price is $35.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a twelve month low of $27.42 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The company had revenue of $231.83 million for the quarter, compared to analyst estimates of $195.38 million. As a group, research analysts expect that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, May 30th. Trustmark’s dividend payout ratio is 25.00%.

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.