Ballew Advisors Inc Cuts Stake in Trustmark Co. (NASDAQ:TRMK)

Ballew Advisors Inc decreased its position in Trustmark Co. (NASDAQ:TRMK) by 62.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,993 shares of the financial services provider’s stock after selling 16,828 shares during the period. Ballew Advisors Inc’s holdings in Trustmark were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMK. GAMMA Investing LLC lifted its stake in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Trustmark during the 1st quarter valued at approximately $52,000. Innealta Capital LLC purchased a new stake in shares of Trustmark during the 2nd quarter worth approximately $61,000. CWM LLC grew its holdings in shares of Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 611 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new position in Trustmark in the 2nd quarter valued at approximately $238,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRMK. DA Davidson upped their target price on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Truist Financial reduced their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.50.

Trustmark Stock Performance

Shares of TRMK stock opened at $32.96 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.82 and a beta of 0.73. Trustmark Co. has a one year low of $18.96 and a one year high of $35.72. The company has a 50 day moving average price of $31.98 and a 200 day moving average price of $30.48.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $283.96 million during the quarter, compared to analysts’ expectations of $229.83 million. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts anticipate that Trustmark Co. will post 2.92 EPS for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio is presently 35.80%.

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.