Ameriprise Financial Inc. Trims Stake in Trustmark Co. (NASDAQ:TRMK)

Ameriprise Financial Inc. reduced its position in Trustmark Co. (NASDAQ:TRMK) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,318 shares of the financial services provider’s stock after selling 2,593 shares during the quarter. Ameriprise Financial Inc. owned 0.27% of Trustmark worth $5,883,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMK. Wellington Management Group LLP raised its position in Trustmark by 82.2% in the 4th quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after purchasing an additional 1,115,708 shares during the period. JPMorgan Chase & Co. raised its position in Trustmark by 176.2% in the 4th quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider’s stock worth $12,014,000 after purchasing an additional 216,706 shares during the period. Trustmark National Bank Trust Department raised its position in Trustmark by 129.6% in the 4th quarter. Trustmark National Bank Trust Department now owns 299,423 shares of the financial services provider’s stock worth $10,591,000 after purchasing an additional 169,011 shares during the period. Norges Bank purchased a new stake in Trustmark in the 4th quarter worth about $5,704,000. Finally, Edgestream Partners L.P. purchased a new stake in Trustmark in the 4th quarter worth about $2,652,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Shares of NASDAQ:TRMK opened at $34.61 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of 9.51 and a beta of 0.63. The firm’s 50 day simple moving average is $33.88 and its 200-day simple moving average is $35.72. Trustmark Co. has a one year low of $27.42 and a one year high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. The firm had revenue of $231.83 million for the quarter, compared to the consensus estimate of $195.38 million. As a group, equities analysts predict that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. Trustmark’s dividend payout ratio is presently 25.00%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Hovde Group raised their target price on shares of Trustmark from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Trustmark from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.80.

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.