Quest Partners LLC Purchases New Stake in Trustmark Co. (NASDAQ:TRMK)

Quest Partners LLC purchased a new stake in Trustmark Co. (NASDAQ:TRMK) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 9,701 shares of the financial services provider’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRMK. GAMMA Investing LLC increased its holdings in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares during the last quarter. Innealta Capital LLC acquired a new stake in Trustmark during the second quarter worth $61,000. GoalVest Advisory LLC acquired a new stake in Trustmark during the third quarter worth $63,000. nVerses Capital LLC acquired a new stake in Trustmark during the third quarter worth $67,000. Finally, CWM LLC grew its stake in shares of 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 buying an additional 611 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Up 1.8 %

Trustmark stock opened at $39.97 on Tuesday. Trustmark Co. has a fifty-two week low of $22.11 and a fifty-two week high of $40.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $2.44 billion, a P/E ratio of 12.08 and a beta of 0.72. The stock has a 50-day simple moving average of $34.59 and a 200-day simple moving average of $32.24.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same period in the previous year, the business earned $0.64 EPS. Equities research analysts expect that Trustmark Co. will post 2.94 earnings per share for the current year.

Trustmark Announces Dividend

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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark’s dividend payout ratio (DPR) 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 that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now owns 26,792 shares in the company, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock worth $1,347,991 in the last quarter. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

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

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.