Trustmark Corporation (NASDAQ:TRMK) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 527,214 shares of the financial services provider's stock after selling 64,718 shares during the quarter. Principal Financial Group Inc. owned about 0.87% of Trustmark worth $18,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in Trustmark in the 4th quarter valued at about $37,000. Lazard Asset Management LLC bought a new stake in shares of Trustmark in the 4th quarter worth approximately $47,000. GAMMA Investing LLC lifted its stake in Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 526 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Trustmark by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider's stock worth $68,000 after buying an additional 1,709 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in Trustmark in the fourth quarter worth approximately $82,000. 67.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Keefe, Bruyette & Woods reduced their target price on Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Hovde Group lifted their price target on Trustmark from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $39.80.

Trustmark Stock Up 1.0%

Shares of TRMK traded up $0.38 during mid-day trading on Monday, reaching $38.70. The company's stock had a trading volume of 253,004 shares, compared to its average volume of 308,357. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 10.08 and a beta of 0.66. The business has a fifty day moving average of $35.60 and a 200 day moving average of $35.12. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73.

Trustmark (NASDAQ:TRMK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. The firm had revenue of $231.83 million during the quarter, compared to the consensus estimate of $195.38 million. As a group, analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, May 30th. Trustmark's dividend payout ratio is currently 25.00%.

Trustmark 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.