Public Employees Retirement Association of Colorado Sells 647 Shares of Trustmark Co. (NASDAQ:TRMK)

Public Employees Retirement Association of Colorado trimmed its position in Trustmark Co. (NASDAQ:TRMK) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,070 shares of the financial services provider’s stock after selling 647 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Trustmark were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRMK. Barclays PLC increased its stake in shares of Trustmark by 124.7% in the 3rd quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after purchasing an additional 69,779 shares during the last quarter. Principal Financial Group Inc. grew its position in Trustmark by 6.8% in the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after acquiring an additional 37,989 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Trustmark by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock worth $3,912,000 after acquiring an additional 11,934 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Trustmark in the third quarter worth about $499,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Trustmark in the 4th quarter valued at approximately $217,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of research analyst reports. Hovde Group upped their price objective 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. Janney Montgomery Scott initiated coverage on Trustmark in a research note on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped their target price on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.80.

Trustmark Stock Performance

TRMK stock opened at $34.91 on Friday. Trustmark Co. has a 1-year low of $27.42 and a 1-year high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $33.69 and a 200-day moving average price of $35.64. The firm has a market cap of $2.12 billion, a PE ratio of 9.59 and a beta of 0.67.

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

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, May 30th. Trustmark’s dividend payout ratio is currently 25.00%.

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.