Fisher Asset Management LLC Sells 34,895 Shares of Trustmark Co. (NASDAQ:TRMK)

Fisher Asset Management LLC lessened its position in shares of Trustmark Co. (NASDAQ:TRMK) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 363,537 shares of the financial services provider’s stock after selling 34,895 shares during the period. Fisher Asset Management LLC’s holdings in Trustmark were worth $12,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in Trustmark by 1.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,274 shares of the financial services provider’s stock worth $1,920,000 after buying an additional 528 shares during the last quarter. BankPlus Trust Department bought a new position in Trustmark during the fourth quarter worth $842,000. Element Wealth LLC grew its holdings in Trustmark by 6.3% in the fourth quarter. Element Wealth LLC now owns 9,018 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 533 shares during the period. New York State Common Retirement Fund grew its holdings in Trustmark by 8.3% in the fourth quarter. New York State Common Retirement Fund now owns 19,513 shares of the financial services provider’s stock worth $690,000 after purchasing an additional 1,500 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in Trustmark in the fourth quarter worth $217,000. Institutional investors own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TRMK shares. DA Davidson raised their price target on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Janney Montgomery Scott started coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.67.

Trustmark Stock Up 0.4 %

Shares of NASDAQ TRMK opened at $36.73 on Tuesday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 10.09 and a beta of 0.76. The company has a 50-day moving average price of $36.23 and a 200-day moving average price of $35.30. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73. 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 (NASDAQ:TRMK) last issued 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 net margin of 19.42% and a return on equity of 10.12%. On average, equities research analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be 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 2.61%. The ex-dividend date is Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

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.