Deutsche Bank AG Raises Stake in Trustmark Co. (NASDAQ:TRMK)

Deutsche Bank AG lifted its position in Trustmark Co. (NASDAQ:TRMK) by 54.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,756 shares of the financial services provider’s stock after acquiring an additional 18,603 shares during the quarter. Deutsche Bank AG owned 0.09% of Trustmark worth $1,866,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in Trustmark by 124.7% during the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after buying an additional 69,779 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Trustmark in the fourth quarter valued at about $217,000. Raymond James Financial Inc. purchased a new position in Trustmark in the 4th quarter worth approximately $1,145,000. BankPlus Wealth Management LLC acquired a new stake in shares of Trustmark during the 4th quarter worth approximately $433,000. Finally, KBC Group NV grew its stake in shares of Trustmark by 43.0% in the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock valued at $112,000 after buying an additional 951 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRMK. Keefe, Bruyette & Woods cut their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Janney Montgomery Scott began coverage on shares of Trustmark in a research note on Friday, January 24th. They set a “buy” rating and a $42.00 price target on the stock. DA Davidson upped their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Hovde Group upped their price objective on shares of Trustmark from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Trustmark currently has an average rating of “Hold” and an average price target of $39.80.

Trustmark Stock Performance

Trustmark stock opened at $34.61 on Friday. The firm has a market capitalization of $2.09 billion, a PE ratio of 9.51 and a beta of 0.63. The stock’s 50 day moving average price is $33.88 and its 200 day moving average price is $35.72. 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 one year low of $27.42 and a one year high of $40.73.

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

Trustmark Announces Dividend

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