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

Aptus Capital Advisors LLC purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,888 shares of the financial services provider’s stock, valued at approximately $537,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Trustmark during the 1st quarter worth approximately $52,000. Innealta Capital LLC acquired a new position in shares of Trustmark in the 2nd quarter valued at $61,000. nVerses Capital LLC acquired a new position in shares of Trustmark in the 3rd quarter valued at $67,000. Finally, CWM LLC boosted its holdings in shares of Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after buying an additional 611 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Down 0.2 %

Shares of NASDAQ:TRMK opened at $38.15 on Friday. The stock has a market cap of $2.33 billion, a P/E ratio of 11.53 and a beta of 0.72. The firm has a fifty day moving average price of $33.93 and a 200 day moving average price of $31.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark Co. has a 1-year low of $22.11 and a 1-year high of $40.60.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data 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. The company had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 17.62% and a return on equity of 9.48%. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts predict that Trustmark Co. will post 2.93 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. Trustmark’s payout ratio is currently 27.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TRMK shares. Hovde Group upped 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. DA Davidson upped 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. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Truist Financial upped 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and an average target price of $35.20.

Insiders Place Their Bets

In other news, Director Gerard R. Host sold 26,416 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the transaction, the director now owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the completion of the transaction, the director now owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

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.