HB Wealth Management LLC Has $2.64 Million Stake in Trustmark Co. (NASDAQ:TRMK)

HB Wealth Management LLC lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,634 shares of the financial services provider’s stock after purchasing an additional 528 shares during the period. HB Wealth Management LLC owned approximately 0.12% of Trustmark worth $2,640,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in Trustmark in the third quarter valued at approximately $63,000. nVerses Capital LLC acquired a new stake in Trustmark in the third quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Trustmark in the third quarter worth $130,000. Blue Trust Inc. raised its holdings in Trustmark by 225.2% in the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 3,430 shares during the period. Finally, Arlington Trust Co LLC raised its holdings in Trustmark by 77.0% in the third quarter. Arlington Trust Co LLC now owns 5,309 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 2,309 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRMK shares. Truist Financial increased their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. DA Davidson increased their target price on shares of Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Hovde Group increased their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and an average target price of $35.20.

Trustmark Stock Up 1.0 %

Shares of TRMK stock opened at $35.26 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark Co. has a 1 year low of $25.24 and a 1 year high of $40.73. The firm’s fifty day moving average price is $36.94 and its two-hundred day moving average price is $34.29. The firm has a market capitalization of $2.16 billion, a P/E ratio of 10.65 and a beta of 0.76.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The firm had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the business earned $0.64 EPS. On average, equities analysts predict that Trustmark Co. will post 2.96 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.23 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.61%. Trustmark’s payout ratio is currently 27.79%.

Insider Buying and Selling at Trustmark

In other news, Director Marcelo L. Eduardo sold 790 shares of Trustmark stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. This trade represents a 9.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,206 shares of company stock worth $1,347,991. Insiders own 1.50% of the company’s stock.

About Trustmark

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.