Trustmark Corporation $TRMK Stock Position Increased by HB Wealth Management LLC

HB Wealth Management LLC grew its position in Trustmark Corporation (NASDAQ:TRMK) by 544.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,211 shares of the financial services provider’s stock after purchasing an additional 59,308 shares during the period. HB Wealth Management LLC owned approximately 0.12% of Trustmark worth $2,780,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Trustmark by 452.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after buying an additional 1,022 shares in the last quarter. GAMMA Investing LLC boosted its position in Trustmark by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 419 shares during the period. Cetera Investment Advisers bought a new position in shares of Trustmark in the second quarter worth $207,000. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Trustmark in the second quarter worth $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Trustmark during the second quarter valued at about $211,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of TRMK opened at $40.09 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.87. The firm’s 50 day moving average is $39.27 and its 200-day moving average is $38.91. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.42. The stock has a market capitalization of $2.40 billion, a P/E ratio of 10.95 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The business had revenue of $207.53 million for the quarter, compared to the consensus estimate of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. Equities research analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, December 1st. Trustmark’s payout ratio is presently 26.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TRMK. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Zacks Research cut shares of Trustmark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Trustmark presently has an average rating of “Moderate Buy” and an average price target of $42.25.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.