Aptus Capital Advisors LLC Makes New Investment in Trustmark Co. (NASDAQ:TRMK)

Aptus Capital Advisors LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK) in the third quarter, HoldingsChannel reports. The firm bought 16,888 shares of the financial services provider’s stock, valued at approximately $537,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Trustmark by 2.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,356 shares of the financial services provider’s stock worth $552,000 after buying an additional 415 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Trustmark by 2.0% during 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 in the last quarter. CWM LLC grew its holdings in Trustmark by 14.6% in the second 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 during the period. Finally, Barnes Pettey Financial Advisors LLC grew its holdings in Trustmark by 9.2% in 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 purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Down 0.2 %

NASDAQ TRMK opened at $38.15 on Friday. The company’s fifty day simple moving average is $33.93 and its 200-day simple moving average is $31.95. Trustmark Co. has a 52 week low of $22.11 and a 52 week high of $40.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.33 billion, a P/E ratio of 11.53 and a beta of 0.72.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $192.77 million. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts predict that Trustmark Co. will post 2.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.41%. Trustmark’s dividend payout ratio is presently 27.79%.

Insider Activity at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction 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 sale, the director now owns 26,792 shares in the company, valued at $1,064,446.16. The trade was 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 available at this link. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the sale, the director now owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.