SG Americas Securities LLC Buys 13,749 Shares of Trustmark Corporation $TRMK

SG Americas Securities LLC increased its stake in Trustmark Corporation (NASDAQ:TRMK) by 158.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,444 shares of the financial services provider’s stock after purchasing an additional 13,749 shares during the quarter. SG Americas Securities LLC’s holdings in Trustmark were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,022 shares during the period. GAMMA Investing LLC increased its position in Trustmark by 23.2% during the second quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 419 shares during the last quarter. Cetera Investment Advisers bought a new position in Trustmark in the second quarter valued at about $207,000. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in Trustmark in the second quarter worth about $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Trustmark during the 2nd quarter valued at about $211,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Trading Up 0.3%

Trustmark stock opened at $41.31 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.50. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.29 and a beta of 0.69. The firm has a 50 day moving average of $39.60 and a 200 day moving average of $39.10.

Trustmark (NASDAQ:TRMK) last posted its quarterly 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 firm had revenue of $207.53 million during 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 business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, research analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Trustmark’s dividend payout ratio (DPR) is currently 26.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TRMK shares. Zacks Research cut shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus 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.