Element Wealth LLC Has $270,000 Stock Position in Trustmark Co. (NASDAQ:TRMK)

Element Wealth LLC lessened its stake in Trustmark Co. (NASDAQ:TRMK) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,485 shares of the financial services provider’s stock after selling 556 shares during the quarter. Element Wealth LLC’s holdings in Trustmark were worth $270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after buying an additional 351 shares during the period. EntryPoint Capital LLC bought a new position in Trustmark during the first quarter worth $52,000. Innealta Capital LLC acquired a new position in shares of Trustmark in the second quarter valued at $61,000. nVerses Capital LLC bought a new position in shares of Trustmark in the third quarter valued at about $67,000. Finally, CWM LLC lifted its stake in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday. DA Davidson upped their price objective on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial dropped their target price on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Trustmark Stock Performance

NASDAQ:TRMK opened at $34.46 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 13.41 and a beta of 0.73. Trustmark Co. has a fifty-two week low of $18.96 and a fifty-two week high of $35.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a fifty day moving average price of $32.60 and a 200-day moving average price of $30.90.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts anticipate that Trustmark Co. will post 2.92 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.67%. Trustmark’s dividend payout ratio is 35.80%.

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.