Lazard Asset Management LLC Invests $47,000 in Trustmark Co. (NASDAQ:TRMK)

Lazard Asset Management LLC purchased a new stake in Trustmark Co. (NASDAQ:TRMK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,344 shares of the financial services provider’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after buying an additional 69,779 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 943 shares during the last quarter. KBC Group NV grew its holdings 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 purchasing an additional 951 shares during the period. BankPlus Wealth Management LLC acquired a new stake in Trustmark during the fourth quarter worth about $433,000. Finally, CIBC Asset Management Inc purchased a new position in Trustmark during the fourth quarter worth about $217,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TRMK shares. DA Davidson increased their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Hovde Group lifted their target price on Trustmark from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.80.

Trustmark Stock Performance

Shares of TRMK stock opened at $34.61 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $2.09 billion, a P/E ratio of 9.51 and a beta of 0.63. The firm’s 50 day moving average price is $33.88 and its 200-day moving average price is $35.68. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73.

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

Trustmark Dividend Announcement

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

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.