Envestnet Asset Management Inc. Has $7.37 Million Holdings in Trustmark Co. (NASDAQ:TRMK)

Envestnet Asset Management Inc. raised its position in Trustmark Co. (NASDAQ:TRMK) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,316 shares of the financial services provider’s stock after purchasing an additional 9,475 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of Trustmark worth $7,368,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark in the fourth quarter valued at about $37,000. KBC Group NV increased its position in shares of Trustmark by 43.0% during 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 last quarter. Cibc World Markets Corp acquired a new stake in shares of Trustmark in the 4th quarter valued at approximately $201,000. Blue Trust Inc. grew its stake in shares of Trustmark by 19.0% in the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after buying an additional 943 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Trustmark during the fourth quarter worth $217,000. 67.64% of the stock is currently owned by institutional investors.

Trustmark Price Performance

Trustmark stock opened at $32.75 on Monday. The firm has a market cap of $1.99 billion, a P/E ratio of 9.00 and a beta of 0.67. The stock’s 50 day moving average is $34.40 and its 200 day moving average is $35.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a one year low of $26.65 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued 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 dividend yield of 2.93%. The ex-dividend date was Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Analyst Ratings Changes

Several research firms have recently weighed in on TRMK. DA Davidson boosted their price objective on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Janney Montgomery Scott initiated coverage on Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.