Trustmark Co. (NASDAQ:TRMK) Stock Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Trustmark Co. (NASDAQ:TRMK) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,767 shares of the financial services provider’s stock after selling 1,473 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Trustmark were worth $345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Trustmark by 32.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,356,853 shares of the financial services provider’s stock worth $43,175,000 after acquiring an additional 333,390 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Trustmark by 19.8% during the 3rd quarter. Verition Fund Management LLC now owns 778,312 shares of the financial services provider’s stock worth $24,766,000 after acquiring an additional 128,834 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Trustmark during the 4th quarter worth $2,652,000. Barclays PLC boosted its stake in shares of Trustmark by 124.7% during the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock worth $4,001,000 after acquiring an additional 69,779 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Trustmark by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock worth $19,059,000 after acquiring an additional 37,989 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

TRMK opened at $34.01 on Friday. The stock has a fifty day moving average of $35.96 and a 200-day moving average of $35.44. The firm has a market capitalization of $2.07 billion, a P/E ratio of 9.34 and a beta of 0.71. Trustmark Co. has a 12-month low of $25.41 and a 12-month high of $40.73. 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 (NASDAQ:TRMK) last announced its quarterly earnings data 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 return on equity of 10.12% and a net margin of 19.42%. Equities analysts forecast that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The company 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 annualized dividend and a dividend yield of 2.82%. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, February 28th. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson raised their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their target price on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Janney Montgomery Scott started coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.67.

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.