Sanctuary Advisors LLC Takes $441,000 Position in Trustmark Co. (NASDAQ:TRMK)

Sanctuary Advisors LLC purchased a new position in shares of Trustmark Co. (NASDAQ:TRMK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,678 shares of the financial services provider’s stock, valued at approximately $441,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Magnolia Capital Advisors LLC purchased a new stake in Trustmark during the 2nd quarter worth $1,081,000. Susquehanna Fundamental Investments LLC purchased a new stake in Trustmark during the 2nd quarter worth $388,000. Earnest Partners LLC boosted its position in Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock worth $103,398,000 after purchasing an additional 102,268 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Trustmark during the 2nd quarter worth $1,866,000. Finally, Public Sector Pension Investment Board lifted its holdings in Trustmark by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 134,651 shares of the financial services provider’s stock worth $4,045,000 after buying an additional 9,470 shares in the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on TRMK shares. Truist Financial cut their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. StockNews.com lowered shares of Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Finally, DA Davidson boosted their price objective on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.50.

Trustmark Stock Performance

Shares of Trustmark stock opened at $35.36 on Thursday. The firm has a market cap of $2.16 billion, a PE ratio of 13.76 and a beta of 0.73. The firm’s 50-day simple moving average is $32.12 and its 200-day simple moving average is $30.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $35.72.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts forecast that Trustmark Co. will post 2.92 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.60%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Trustmark 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.