Wealth Enhancement Advisory Services LLC Makes New Investment in Trustmark Co. (NASDAQ:TRMK)

Wealth Enhancement Advisory Services LLC purchased a new stake in Trustmark Co. (NASDAQ:TRMK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,003 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently made changes to their positions in TRMK. Jones Financial Companies Lllp purchased a new position in Trustmark during the fourth quarter valued at approximately $37,000. Lazard Asset Management LLC purchased a new position in Trustmark in the fourth quarter valued at $47,000. Sterling Capital Management LLC raised its position in shares of Trustmark by 817.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,709 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Trustmark by 165.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 2,051 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Trustmark during the 4th quarter valued at about $201,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK opened at $33.89 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.05 billion, a P/E ratio of 9.31 and a beta of 0.66. The company has a 50-day moving average of $34.24 and a two-hundred day moving average of $35.20. Trustmark Co. has a 12-month low of $27.90 and a 12-month 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, topping analysts’ consensus estimates of $0.82 by $0.06. The company had revenue of $231.83 million during the quarter, compared to analysts’ expectations of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. As a group, research analysts predict that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, May 30th. Trustmark’s dividend payout ratio is presently 25.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TRMK shares. Hovde Group increased their price target 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. Wall Street Zen lowered shares of Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Trustmark has a consensus rating of “Hold” and an average price target of $39.80.

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.