Legacy Wealth Management LLC MS Grows Stock Holdings in Trustmark Co. (NASDAQ:TRMK)

Legacy Wealth Management LLC MS lifted its position in Trustmark Co. (NASDAQ:TRMK) by 10.3% in the third quarter, Holdings Channel.com reports. The firm owned 10,700 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Trustmark were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRMK. CWM LLC boosted its stake 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 valued at $144,000 after purchasing an additional 611 shares in the last quarter. Barnes Pettey Financial Advisors LLC grew its stake in shares of Trustmark by 9.2% during the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider’s stock valued at $267,000 after buying an additional 750 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in shares of Trustmark during the second quarter valued at about $238,000. Louisiana State Employees Retirement System increased its holdings in shares of Trustmark by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider’s stock worth $925,000 after buying an additional 600 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Trustmark by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock valued at $20,604,000 after acquiring an additional 2,714 shares during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRMK shares. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Hovde Group lifted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson increased their price target on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.20.

Insider Buying and Selling at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares in the company, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the sale, the director now owns 7,334 shares in the company, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is currently owned by company insiders.

Trustmark Trading Down 0.6 %

Trustmark stock traded down $0.21 during mid-day trading on Friday, reaching $37.46. 16,325 shares of the company traded hands, compared to its average volume of 279,913. The firm’s 50 day moving average price is $36.48 and its 200 day moving average price is $33.03. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a 52-week low of $25.24 and a 52-week high of $40.73.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. The business had revenue of $192.30 million during the quarter, compared to analyst estimates of $192.77 million. During the same period last year, the business posted $0.64 earnings per share. On average, analysts anticipate that Trustmark Co. will post 2.94 earnings per share for the current fiscal year.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. Trustmark’s dividend payout ratio (DPR) is 27.79%.

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.