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

Illinois Municipal Retirement Fund cut its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 6.4% during the 4th quarter, according to its most recent 13F filing 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 quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Trustmark worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMK. Federated Hermes Inc. lifted its position in Trustmark by 2,226.6% during the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after buying an additional 314,937 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Trustmark by 582.9% during the 3rd quarter. Victory Capital Management Inc. now owns 158,395 shares of the financial services provider’s stock worth $3,442,000 after purchasing an additional 135,202 shares during the last quarter. Ignite Planners LLC increased its stake in shares of Trustmark by 924.4% during the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after purchasing an additional 128,623 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after purchasing an additional 124,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Trustmark by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock worth $18,060,000 after purchasing an additional 100,091 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Up 0.8 %

Shares of TRMK opened at $30.05 on Monday. Trustmark Co. has a 52 week low of $18.96 and a 52 week high of $30.21. The firm has a market cap of $1.84 billion, a P/E ratio of 11.69 and a beta of 0.82. The firm’s 50-day simple moving average is $26.89 and its 200 day simple moving average is $25.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

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

Trustmark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark’s dividend payout ratio is currently 35.80%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TRMK shares. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Saturday. DA Davidson boosted their price objective 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 price target on shares of Trustmark in a research note on Tuesday, March 26th. Finally, Truist Financial upped their price target on shares of Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $32.75.

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.