Illinois Municipal Retirement Fund Sells 2,276 Shares of Trustmark Co. (NASDAQ:TRMK)

Illinois Municipal Retirement Fund reduced its position in shares of Trustmark Co. (NASDAQ:TRMK) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,225 shares of the financial services provider’s stock after selling 2,276 shares during the period. Illinois Municipal Retirement Fund’s holdings in Trustmark were worth $926,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. AE Wealth Management LLC purchased a new stake in Trustmark during the third quarter worth about $337,000. SG Americas Securities LLC purchased a new stake in Trustmark during the third quarter worth about $535,000. Commonwealth Equity Services LLC increased its holdings in Trustmark by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock worth $279,000 after buying an additional 587 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Trustmark by 29.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock worth $269,000 after buying an additional 2,813 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Trustmark during the third quarter worth about $562,000. 67.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. DA Davidson lifted their target price on shares of Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $36.00 in a research note on Thursday. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Trustmark currently has an average rating of “Hold” and a consensus price target of $32.75.

Trustmark Trading Up 0.8 %

Shares of Trustmark stock opened at $30.05 on Monday. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $30.21. The firm has a market cap of $1.84 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50 day simple moving average of $26.89 and a two-hundred day simple moving average of $25.60.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.08. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. The business had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. During the same period in the previous year, the business posted $0.82 earnings per share. Analysts expect that Trustmark Co. will post 2.53 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.06%. Trustmark’s payout ratio is presently 35.80%.

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.