Trustmark Corporation $TRMK Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 9.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 328,925 shares of the financial services provider’s stock after acquiring an additional 29,302 shares during the period. Principal Financial Group Inc.’s holdings in Trustmark were worth $13,025,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Richardson Financial Services Inc. grew its holdings in Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 345 shares during the period. EverSource Wealth Advisors LLC boosted its position in Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares in the last quarter. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Trustmark during the 3rd quarter worth approximately $205,000. Cetera Investment Advisers purchased a new position in shares of Trustmark during the 2nd quarter valued at approximately $207,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Trustmark during the 2nd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRMK. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. DA Davidson increased their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Hovde Group upped their price target on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.83.

Trustmark Stock Performance

TRMK opened at $43.85 on Wednesday. The firm’s fifty day simple moving average is $40.95 and its two-hundred day simple moving average is $39.58. Trustmark Corporation has a 52-week low of $29.77 and a 52-week high of $44.96. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 11.82 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $209.44 million during the quarter, compared to the consensus estimate of $207.05 million. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. During the same quarter in the prior year, the firm earned $0.92 EPS. Equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.00 annualized dividend and a yield of 2.3%. This is an increase from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s dividend payout ratio is currently 25.88%.

Trustmark Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.