Element Wealth LLC Purchases New Position in Trustmark Co. (NASDAQ:TRMK)

Element Wealth LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,814 shares of the financial services provider’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Trustmark in the 3rd quarter valued at approximately $28,000. Arlington Trust Co LLC bought a new position in shares of Trustmark during the fourth quarter valued at $84,000. Nisa Investment Advisors LLC raised its stake in shares of Trustmark by 1,029.7% during the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 5,519 shares during the last quarter. Advisor Resource Council bought a new position in Trustmark during the fourth quarter worth $230,000. Finally, Teza Capital Management LLC bought a new position in Trustmark during the third quarter worth $242,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised their price target on shares of Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. DA Davidson restated a “neutral” rating on shares of Trustmark in a report on Monday, January 15th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.67.

Trustmark Stock Performance

TRMK stock traded up $0.80 during mid-day trading on Tuesday, hitting $27.55. The company had a trading volume of 274,258 shares, compared to its average volume of 272,533. The stock’s fifty day moving average price is $26.71 and its two-hundred day moving average price is $25.39. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $28.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $1.69 billion, a PE ratio of 10.21 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The company had revenue of $189.85 million for the quarter, compared to analyst estimates of $187.63 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that Trustmark Co. will post 2.44 earnings per share for the current fiscal year.

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.