SG Americas Securities LLC Sells 6,043 Shares of Trustmark Co. (NASDAQ:TRMK)

SG Americas Securities LLC lowered its holdings in Trustmark Co. (NASDAQ:TRMK) by 60.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,018 shares of the financial services provider’s stock after selling 6,043 shares during the quarter. SG Americas Securities LLC’s holdings in Trustmark were worth $121,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TRMK. Wellington Management Group LLP purchased a new stake in shares of Trustmark during the 4th quarter worth $12,572,000. Norges Bank purchased a new stake in shares of Trustmark during the fourth quarter valued at about $10,992,000. Hsbc Holdings PLC bought a new stake in shares of Trustmark in the 4th quarter valued at about $8,215,000. Verition Fund Management LLC purchased a new position in shares of Trustmark in the 4th quarter worth approximately $5,611,000. Finally, Stieven Capital Advisors L.P. raised its stake in shares of Trustmark by 57.2% during the 1st quarter. Stieven Capital Advisors L.P. now owns 503,000 shares of the financial services provider’s stock worth $14,139,000 after acquiring an additional 183,100 shares in the last quarter. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Trading Down 0.5 %

Shares of Trustmark stock opened at $33.03 on Tuesday. Trustmark Co. has a 12-month low of $18.96 and a 12-month high of $35.72. The firm’s 50 day simple moving average is $31.48 and its two-hundred day simple moving average is $29.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.85 and a beta of 0.75.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The firm had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. During the same period in the prior year, the firm earned $0.74 EPS. Analysts predict that Trustmark Co. will post 2.37 EPS for the current year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, August 30th. Trustmark’s dividend payout ratio (DPR) is 35.80%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Trustmark from $31.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. DA Davidson raised their price objective on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

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.