Trustmark Co. (NASDAQ:TRMK) Shares Bought by Element Wealth LLC

Element Wealth LLC grew its holdings in shares of Trustmark Co. (NASDAQ:TRMK) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,018 shares of the financial services provider’s stock after acquiring an additional 533 shares during the period. Element Wealth LLC’s holdings in Trustmark were worth $319,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC bought a new position in shares of Trustmark during the third quarter worth about $63,000. KBC Group NV lifted its position in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Trustmark during the third quarter worth about $130,000. Blue Trust Inc. lifted its position in shares of Trustmark by 225.2% during 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 last quarter. Finally, Arlington Trust Co LLC lifted its position in shares of Trustmark by 77.0% during 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 last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRMK shares. Hovde Group increased their price target on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their target price on shares of Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Janney Montgomery Scott assumed coverage on shares of Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 target price on the stock. DA Davidson raised their target price on shares of Trustmark from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Truist Financial raised 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Trustmark currently has a consensus rating of “Hold” and an average target price of $38.67.

Trustmark Trading Down 2.2 %

NASDAQ:TRMK opened at $36.50 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 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 has a market capitalization of $2.23 billion, a price-to-earnings ratio of 10.03 and a beta of 0.76. The stock has a fifty day simple moving average of $36.21 and a 200 day simple moving average of $35.06.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. Sell-side analysts forecast that Trustmark Co. will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.63%. Trustmark’s dividend payout ratio (DPR) is presently 25.27%.

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.