Hsbc Holdings PLC Makes New $898,000 Investment in Trustmark Corporation $TRMK

Key Points

• Hsbc Holdings PLC opened a new position in Trustmark Corporation during the fourth quarter, buying 23,000 shares valued at about $898,000.
• Several other institutional investors also added to or initiated stakes in Trustmark, and institutions now own 67.64% of the company’s shares.
• Trustmark reported better-than-expected earnings of $0.95 per share on revenue of $208.07 million, while analysts currently rate the stock mostly Hold with an average price target of $44.75.

Hsbc Holdings PLC purchased a new position in shares of Trustmark Corporation (NASDAQ:TRMK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,000 shares of the financial services provider's stock, valued at approximately $898,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. acquired a new stake in shares of Trustmark in the 4th quarter valued at $31,000. Rockefeller Capital Management L.P. increased its position in Trustmark by 1,129.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider's stock worth $33,000 after buying an additional 779 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Trustmark during the fourth quarter worth $36,000. EverSource Wealth Advisors LLC raised its holdings in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider's stock valued at $46,000 after buying an additional 1,022 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Trustmark by 24.1% in the third quarter. IFP Advisors Inc now owns 1,375 shares of the financial services provider's stock worth $54,000 after buying an additional 267 shares during the last quarter. Institutional investors own 67.64% of the company's stock.

Wall Street Analyst Weigh In

TRMK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $45.00 price target on shares of Trustmark in a research note on Thursday, April 9th. Wall Street Zen upgraded Trustmark from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings raised Trustmark from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, June 1st. DA Davidson reiterated a "neutral" rating and set a $44.00 price target on shares of Trustmark in a report on Wednesday, April 29th. Finally, Piper Sandler lifted their price target on shares of Trustmark from $44.00 to $45.50 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Trustmark has an average rating of "Hold" and an average target price of $44.75.

Trustmark Trading Up 0.3%

Shares of NASDAQ:TRMK opened at $46.39 on Tuesday. The company has a market cap of $2.72 billion, a P/E ratio of 12.27 and a beta of 0.65. The stock's 50-day moving average is $44.92 and its 200-day moving average is $43.37. Trustmark Corporation has a 52-week low of $36.05 and a 52-week high of $47.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. Trustmark had a return on equity of 10.74% and a net margin of 20.12%.The business had revenue of $208.07 million for the quarter, compared to analyst estimates of $204.98 million. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that Trustmark Corporation will post 3.92 earnings per share for the current year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Trustmark's dividend payout ratio (DPR) is 26.46%.

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.

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