Element Wealth LLC Purchases Shares of 8,814 Trustmark Co. (NASDAQ:TRMK)

Element Wealth LLC purchased a new stake in Trustmark Co. (NASDAQ:TRMK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,814 shares of the financial services provider’s stock, valued at approximately $246,000.

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. increased its position in Trustmark by 2,226.6% during the 4th quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after purchasing an additional 314,937 shares in the last quarter. Victory Capital Management Inc. lifted its position in Trustmark by 582.9% during the 3rd quarter. Victory Capital Management Inc. now owns 158,395 shares of the financial services provider’s stock worth $3,442,000 after acquiring an additional 135,202 shares in the last quarter. Ignite Planners LLC lifted its position in Trustmark by 924.4% during the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock valued at $3,825,000 after buying an additional 124,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Trustmark by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock valued at $18,060,000 after buying an additional 100,091 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Trustmark Stock Up 3.0 %

NASDAQ TRMK traded up $0.80 during trading hours on Tuesday, hitting $27.55. 274,258 shares of the company traded hands, compared to its average volume of 272,533. The business’s 50-day moving average is $26.71 and its 200-day moving average is $25.39. Trustmark Co. has a twelve month low of $18.96 and a twelve 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 stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.21 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

TRMK has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Friday. Truist Financial raised their price objective on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Piper Sandler reissued a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. Finally, TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.67.

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.