Watershed Asset Management L.L.C. Invests $286,000 in Trustmark Co. (NASDAQ:TRMK)

Watershed Asset Management L.L.C. bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) during the fourth quarter, Holdings Channel.com reports. The firm bought 10,274 shares of the financial services provider’s stock, valued at approximately $286,000.

Other large investors also recently modified their holdings of the company. AE Wealth Management LLC acquired a new position in Trustmark in the third quarter valued at approximately $337,000. SG Americas Securities LLC acquired a new position in Trustmark in the third quarter valued at approximately $535,000. Integrated Investment Consultants LLC lifted its holdings in Trustmark by 20.4% in the third quarter. Integrated Investment Consultants LLC now owns 16,546 shares of the financial services provider’s stock valued at $360,000 after buying an additional 2,809 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after buying an additional 587 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Trustmark by 29.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock valued at $269,000 after buying an additional 2,813 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Trading Up 3.0 %

NASDAQ:TRMK traded up $0.80 during trading hours on Tuesday, hitting $27.55. The stock had a trading volume of 274,462 shares, compared to its average volume of 272,538. Trustmark Co. has a one year low of $18.96 and a one year 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 company has a market cap of $1.69 billion, a price-to-earnings ratio of 10.17 and a beta of 0.82. The business’s 50 day moving average is $26.71 and its 200-day moving average is $25.39.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRMK. DA Davidson restated a “neutral” rating on shares of Trustmark in a report on Monday, January 15th. Keefe, Bruyette & Woods upped their target price on shares of Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Truist Financial upped their target price on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Friday. Finally, TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus target price of $29.67.

Trustmark Company 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.