Arete Wealth Advisors LLC Buys New Shares in Trustmark Co. (NASDAQ:TRMK)

Arete Wealth Advisors LLC bought a new stake in shares of Trustmark Co. (NASDAQ:TRMK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 31,477 shares of the financial services provider’s stock, valued at approximately $1,310,000. Arete Wealth Advisors LLC owned about 0.05% of Trustmark as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMK. Quadrant Capital Group LLC grew its holdings in Trustmark by 160.4% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 470 shares during the last quarter. Delta Asset Management LLC TN bought a new stake in Trustmark in the 4th quarter worth $37,000. Coppell Advisory Solutions Corp. bought a new stake in Trustmark in the 4th quarter worth $43,000. Tower Research Capital LLC TRC grew its holdings in Trustmark by 208.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in Trustmark in the 4th quarter worth $82,000. Institutional investors own 65.26% of the company’s stock.

Trustmark Trading Up 2.4 %

Shares of NASDAQ TRMK opened at $22.35 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 13.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.82. Trustmark Co. has a 1 year low of $20.28 and a 1 year high of $38.47. The firm has a 50-day moving average of $23.78 and a 200 day moving average of $23.65.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. Trustmark had a net margin of 10.87% and a return on equity of 11.69%. The business had revenue of $193.50 million during the quarter, compared to analyst estimates of $184.96 million. During the same period last year, the business earned $0.56 EPS. Trustmark’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts expect that Trustmark Co. will post 2.84 EPS for the current fiscal year.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.92 annualized dividend and a yield of 4.12%. Trustmark’s dividend payout ratio (DPR) is 54.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price target on shares of Trustmark from $27.00 to $24.00 in a report on Thursday, June 29th. Keefe, Bruyette & Woods raised their target price on shares of Trustmark from $26.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Piper Sandler raised their target price on shares of Trustmark from $25.00 to $27.00 in a research report on Thursday, July 27th. Finally, StockNews.com started coverage on shares of Trustmark in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.50.

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.