Trustmark Corporation (NASDAQ:TRMK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 10.9% in the 1st quarter, according to the company in 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 period. Principal Financial Group Inc. owned 0.87% of Trustmark worth $18,184,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TRMK. Jones Financial Companies Lllp bought a new position in shares of Trustmark in the 4th quarter worth $37,000. Lazard Asset Management LLC bought a new position in shares of Trustmark in the 4th quarter worth $47,000. GAMMA Investing LLC raised its position in shares of Trustmark by 41.0% in the 1st quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider's stock worth $62,000 after acquiring an additional 526 shares in the last quarter. Sterling Capital Management LLC grew its stake in 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 buying an additional 1,709 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in Trustmark during the 4th quarter worth $82,000. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

Trustmark stock traded down $0.38 during trading hours on Friday, hitting $38.32. 201,015 shares of the stock traded hands, compared to its average volume of 308,579. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. The firm's 50 day moving average price is $35.60 and its 200-day moving average price is $35.13. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 9.98 and a beta of 0.66. 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 posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. Trustmark had a return on equity of 10.29% and a net margin of 20.73%. As a group, equities analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date was Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.51%. Trustmark's payout ratio is presently 25.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Trustmark from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Keefe, Bruyette & Woods dropped 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, Hovde Group boosted their target price 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 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, the company presently has an average rating of "Hold" and an average target price 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.