24,900 Shares in Trustmark Corporation $TRMK Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Trustmark Corporation (NASDAQ:TRMK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 24,900 shares of the financial services provider’s stock, valued at approximately $1,153,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its stake in Trustmark by 1,129.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 779 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Trustmark during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC grew its stake 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 worth $46,000 after acquiring an additional 1,022 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Trustmark during the 4th quarter worth approximately $55,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Trustmark in the second quarter valued at approximately $63,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Down 0.8%

TRMK stock opened at $45.92 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $46.81 and a two-hundred day moving average price of $44.80. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 11.65 and a beta of 0.65. Trustmark Corporation has a twelve month low of $36.33 and a twelve month high of $49.00.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The firm had revenue of $213.38 million for the quarter, compared to analyst estimates of $210.30 million. During the same quarter in the previous year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts anticipate that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 1st. Trustmark’s payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of research reports. Piper Sandler boosted their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. DA Davidson lifted their price target on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.12.

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.