Trustmark Corporation $TRMK Shares Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC raised its stake in Trustmark Corporation (NASDAQ:TRMK) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,626 shares of the financial services provider’s stock after acquiring an additional 6,000 shares during the period. Magnolia Capital Advisors LLC’s holdings in Trustmark were worth $1,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LPL Financial LLC boosted its stake in Trustmark by 0.6% in the first quarter. LPL Financial LLC now owns 64,802 shares of the financial services provider’s stock valued at $2,235,000 after acquiring an additional 415 shares during the period. GAMMA Investing LLC increased its holdings in shares of Trustmark by 23.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 419 shares during the period. CWM LLC increased its holdings in shares of Trustmark by 9.7% in the 1st quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 502 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Trustmark by 10.0% in the 1st quarter. Russell Investments Group Ltd. now owns 9,450 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 858 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of Trustmark by 12.0% in the 1st quarter. AlphaQuest LLC now owns 11,375 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 1,218 shares during the period. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Performance

Shares of TRMK opened at $37.39 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $2.26 billion, a P/E ratio of 10.22 and a beta of 0.67. The firm’s 50 day moving average is $39.40 and its 200-day moving average is $37.34. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.33.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The company had revenue of $207.53 million for the quarter, compared to analyst estimates of $206.13 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, December 1st. Trustmark’s dividend payout ratio (DPR) is 26.23%.

Insider Buying and Selling at Trustmark

In related news, Director Marcelo L. Eduardo sold 700 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.49, for a total transaction of $26,943.00. Following the completion of the sale, the director directly owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerard R. Host sold 1,556 shares of Trustmark stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total value of $63,220.28. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TRMK has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. DA Davidson raised their target price on shares of Trustmark from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Zacks Research cut shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.25.

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.