Mitchell Mcleod Pugh & Williams Inc. Takes Position in Trustmark Corporation $TRMK

Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 5,715 shares of the financial services provider’s stock, valued at approximately $208,000.

Several other hedge funds have also recently made changes to their positions in TRMK. LPL Financial LLC grew its holdings in Trustmark by 0.6% during the 1st quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider’s stock valued at $2,235,000 after purchasing an additional 415 shares during the last quarter. GAMMA Investing LLC grew its holdings in Trustmark by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 419 shares during the last quarter. CWM LLC grew its holdings in Trustmark by 9.7% during the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 502 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Trustmark by 10.0% in the 1st quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 858 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Trustmark by 4.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,315 shares of the financial services provider’s stock worth $942,000 after acquiring an additional 1,080 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trustmark

In other news, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerard R. Host sold 1,556 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total transaction of $63,220.28. The disclosure for this sale can be found here. Insiders sold a total of 23,226 shares of company stock valued at $897,299 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Trustmark Price Performance

Shares of TRMK opened at $38.93 on Thursday. The company has a 50 day moving average price of $39.55 and a 200-day moving average price of $36.73. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $41.33. The stock has a market capitalization of $2.35 billion, a PE ratio of 10.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.88.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. Trustmark had a net margin of 19.21% and a return on equity of 10.81%. The firm had revenue of $203.44 million during the quarter, compared to analysts’ expectations of $200.35 million. During the same quarter in the prior year, the company earned $0.66 EPS. Equities analysts predict that Trustmark Corporation will post 3.42 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 29th. Trustmark’s dividend payout ratio is presently 26.97%.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. DA Davidson upped their target price on shares of Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Hovde Group upped their target price on shares of Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.00.

Trustmark Profile

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.