Elizabeth Park Capital Advisors Ltd. Purchases 24,938 Shares of Trustmark Corporation $TRMK

Key Points

• Elizabeth Park Capital Advisors Ltd. increased its holdings in Trustmark Corporation by 40.1%, acquiring an additional 24,938 shares, bringing its total to 87,071 shares.
• Multiple institutional investors have also adjusted their stakes, with a notable 165.7% increase in Trustmark shares by the Public Employees Retirement System of Ohio during the fourth quarter.
• Trustmark recently announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.4%, payable on September 15th.

Elizabeth Park Capital Advisors Ltd. lifted its holdings in Trustmark Corporation (NASDAQ:TRMK - Free Report) by 40.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,071 shares of the financial services provider's stock after purchasing an additional 24,938 shares during the period. Trustmark comprises 2.7% of Elizabeth Park Capital Advisors Ltd.'s holdings, making the stock its 15th biggest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.14% of Trustmark worth $3,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Trustmark during the first quarter worth $508,000. Wealth Enhancement Advisory Services LLC acquired a new position in Trustmark during the 4th quarter worth about $212,000. Raymond James Financial Inc. bought a new stake in Trustmark during the 4th quarter worth about $1,145,000. Deutsche Bank AG raised its holdings in Trustmark by 54.5% during the 4th quarter. Deutsche Bank AG now owns 52,756 shares of the financial services provider's stock worth $1,866,000 after purchasing an additional 18,603 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Trustmark by 165.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider's stock valued at $116,000 after acquiring an additional 2,051 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Marcelo L. Eduardo sold 700 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $26,943.00. Following the transaction, the director owned 8,577 shares of the company's stock, valued at $330,128.73. This represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Host sold 20,970 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total value of $807,135.30. Following the sale, the director directly owned 158,360 shares in the company, valued at $6,095,276.40. This trade represents a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,226 shares of company stock worth $897,299 in the last ninety days. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. DA Davidson increased their target price on Trustmark from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen cut Trustmark from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Hovde Group raised their price target on Trustmark from $37.00 to $41.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Trustmark has an average rating of "Hold" and an average price target of $41.00.

Trustmark Trading Down 0.6%

Shares of Trustmark stock traded down $0.25 during midday trading on Friday, reaching $40.27. The company had a trading volume of 182,180 shares, compared to its average volume of 253,808. The stock has a fifty day moving average price of $38.09 and a 200 day moving average price of $35.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $2.43 billion, a PE ratio of 11.31 and a beta of 0.70. Trustmark Corporation has a fifty-two week low of $29.77 and a fifty-two week high of $40.81.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. The firm had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark's dividend payout ratio is currently 26.97%.

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.