Charles Schwab Investment Management Inc. Has $34.28 Million Holdings in Trustmark Corporation $TRMK

Charles Schwab Investment Management Inc. raised its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 993,941 shares of the financial services provider’s stock after purchasing an additional 99,134 shares during the period. Charles Schwab Investment Management Inc. owned 1.63% of Trustmark worth $34,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Trustmark by 82.2% during the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock valued at $87,454,000 after purchasing an additional 1,115,708 shares during the period. Northern Trust Corp lifted its position in Trustmark by 5.0% during the 4th quarter. Northern Trust Corp now owns 808,844 shares of the financial services provider’s stock valued at $28,609,000 after purchasing an additional 38,594 shares during the period. Federated Hermes Inc. lifted its position in Trustmark by 0.6% during the 1st quarter. Federated Hermes Inc. now owns 341,927 shares of the financial services provider’s stock valued at $11,793,000 after purchasing an additional 2,050 shares during the period. Envestnet Asset Management Inc. lifted its position in Trustmark by 4.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 208,316 shares of the financial services provider’s stock valued at $7,368,000 after purchasing an additional 9,475 shares during the period. Finally, Edgestream Partners L.P. lifted its stake in Trustmark by 172.9% in the first quarter. Edgestream Partners L.P. now owns 204,665 shares of the financial services provider’s stock valued at $7,059,000 after buying an additional 129,679 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRMK shares. Hovde Group increased their target price on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. 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 note on Thursday, April 24th. Finally, DA Davidson increased their target price on Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

Trustmark Trading Down 0.3%

NASDAQ TRMK opened at $38.56 on Tuesday. The firm has a market cap of $2.33 billion, a P/E ratio of 10.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50-day moving average is $37.09 and its 200-day moving average is $35.60. Trustmark Corporation has a one year low of $29.77 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Trustmark had a return on equity of 10.81% and a net margin of 19.21%. The company had revenue of $203.44 million for the quarter, compared to analyst estimates of $200.35 million. During the same quarter last year, the firm posted $0.66 earnings per share. Sell-side analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark’s dividend payout ratio (DPR) is currently 26.97%.

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.