Headlands Technologies LLC Increases Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Headlands Technologies LLC lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 736.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,224 shares of the financial services provider’s stock after buying an additional 16,045 shares during the quarter. Headlands Technologies LLC’s holdings in Trustmark were worth $645,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRMK. Vanguard Group Inc. lifted its position in Trustmark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after acquiring an additional 30,057 shares during the last quarter. State Street Corp lifted its holdings in shares of Trustmark by 0.8% in the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock valued at $98,355,000 after purchasing an additional 24,450 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Trustmark by 82.2% in 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. Geode Capital Management LLC grew its stake in Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after buying an additional 15,627 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Trustmark by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 894,807 shares of the financial services provider’s stock worth $31,649,000 after buying an additional 6,683 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK opened at $34.59 on Thursday. Trustmark Co. has a 1 year low of $25.41 and a 1 year high of $40.73. The stock has a market capitalization of $2.10 billion, a P/E ratio of 9.50 and a beta of 0.71. 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 company’s fifty day moving average is $35.94 and its two-hundred day moving average is $35.62.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, sell-side analysts predict that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

TRMK has been the topic of a number of research reports. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Janney Montgomery Scott initiated coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trustmark has an average rating of “Hold” and an average price target of $40.60.

Trustmark Company 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.