Campbell & CO Investment Adviser LLC Lowers Position in Trustmark Corporation $TRMK

Campbell & CO Investment Adviser LLC decreased its stake in shares of Trustmark Corporation (NASDAQ:TRMK) by 57.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,173 shares of the financial services provider’s stock after selling 21,481 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Trustmark were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRMK. Silverlake Wealth Management LLC acquired a new stake in shares of Trustmark during the 3rd quarter worth $212,000. Smith Shellnut Wilson LLC ADV purchased a new stake in Trustmark during the third quarter valued at about $205,000. SG Americas Securities LLC increased its stake in Trustmark by 158.1% during the third quarter. SG Americas Securities LLC now owns 22,444 shares of the financial services provider’s stock worth $889,000 after acquiring an additional 13,749 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Trustmark by 544.0% in the 3rd quarter. HB Wealth Management LLC now owns 70,211 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 59,308 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Trustmark by 12.5% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 12,600 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Down 2.2%

NASDAQ TRMK opened at $40.39 on Wednesday. The company’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $39.12. Trustmark Corporation has a 52 week low of $29.77 and a 52 week high of $41.50. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.42 billion, a P/E ratio of 11.04 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last released 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). Trustmark had a net margin of 19.82% and a return on equity of 10.90%. The firm had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same period in the previous year, the business posted $0.84 earnings per share. Trustmark’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Trustmark Company Profile

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.