Barnes Pettey Financial Advisors LLC Increases Stock Position in Trustmark Corporation $TRMK

Barnes Pettey Financial Advisors LLC raised its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 22.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,886 shares of the financial services provider’s stock after purchasing an additional 2,004 shares during the period. Barnes Pettey Financial Advisors LLC’s holdings in Trustmark were worth $397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. IFP Advisors Inc bought a new position in shares of Trustmark during the first quarter valued at $51,000. State of Wyoming bought a new position in Trustmark during the 1st quarter valued at about $52,000. GAMMA Investing LLC boosted its holdings in shares of Trustmark by 23.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,228 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 419 shares during the last quarter. CWM LLC grew its stake in shares of Trustmark by 9.7% in the first quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 502 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Trustmark in the second quarter worth approximately $207,000. Institutional investors own 67.64% of the company’s stock.

Insider Transactions at Trustmark

In other Trustmark news, Director Gerard R. Host sold 1,556 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $40.63, for a total transaction of $63,220.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Trustmark Stock Performance

TRMK opened at $38.56 on Friday. The company’s 50 day moving average is $38.75 and its 200 day moving average is $37.73. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 10.54 and a beta of 0.70. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.33.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.01). The business had revenue of $207.53 million during the quarter, compared to the consensus estimate of $206.13 million. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. On average, equities research analysts predict that Trustmark Corporation will post 3.42 EPS for the current year.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This represents a $0.96 annualized dividend and a yield of 2.5%. Trustmark’s payout ratio is 26.23%.

Analyst Ratings Changes

TRMK has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, October 8th. Zacks Research lowered shares of Trustmark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Trustmark currently has an average rating of “Moderate Buy” and a consensus price target of $42.25.

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.