Trustmark Corporation $TRMK Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in Trustmark Corporation (NASDAQ:TRMK) by 42.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,502 shares of the financial services provider’s stock after selling 36,233 shares during the quarter. Citigroup Inc. owned about 0.08% of Trustmark worth $1,960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Trustmark by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 187,584 shares of the financial services provider’s stock valued at $7,428,000 after buying an additional 18,400 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Trustmark by 38.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,059 shares of the financial services provider’s stock worth $517,000 after buying an additional 3,623 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Trustmark by 29.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 266,557 shares of the financial services provider’s stock valued at $10,556,000 after acquiring an additional 60,340 shares during the period. LSV Asset Management acquired a new stake in Trustmark during the 3rd quarter valued at approximately $83,000. Finally, Rhumbline Advisers boosted its holdings in shares of Trustmark by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 185,109 shares of the financial services provider’s stock valued at $7,330,000 after acquiring an additional 5,379 shares during the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK stock opened at $42.02 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $45.43. The business’s 50 day moving average is $42.21 and its two-hundred day moving average is $40.34. The company has a market capitalization of $2.47 billion, a P/E ratio of 11.33 and a beta of 0.68.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the previous year, the business earned $0.92 earnings per share. Analysts expect that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Trustmark’s previous quarterly dividend of $0.24. Trustmark’s payout ratio is presently 26.95%.

Wall Street Analyst Weigh In

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

About Trustmark

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.