Magnolia Capital Advisors LLC Takes $1.08 Million Position in Trustmark Co. (NASDAQ:TRMK)

Magnolia Capital Advisors LLC purchased a new stake in shares of Trustmark Co. (NASDAQ:TRMK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 35,975 shares of the financial services provider’s stock, valued at approximately $1,081,000.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Trustmark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after buying an additional 50,795 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Trustmark by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,050,787 shares of the financial services provider’s stock valued at $121,683,000 after buying an additional 64,334 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Trustmark by 3.1% during the 2nd quarter. Earnest Partners LLC now owns 3,442,019 shares of the financial services provider’s stock valued at $103,398,000 after buying an additional 102,268 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Trustmark by 25.3% during the 2nd quarter. American Century Companies Inc. now owns 986,322 shares of the financial services provider’s stock valued at $29,629,000 after buying an additional 199,245 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Trustmark by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 685,875 shares of the financial services provider’s stock valued at $20,604,000 after buying an additional 2,714 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Down 0.1 %

Shares of TRMK stock opened at $31.55 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50 day simple moving average is $32.46 and its 200 day simple moving average is $30.13. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.28 and a beta of 0.74. Trustmark Co. has a twelve month low of $18.96 and a twelve month high of $35.72.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. During the same period in the previous year, the business posted $0.74 EPS. As a group, research analysts predict that Trustmark Co. will post 2.92 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, August 30th. Trustmark’s dividend payout ratio is currently 35.80%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TRMK shares. Truist Financial reduced their price target on Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. DA Davidson raised their price objective on Trustmark from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Trustmark currently has a consensus rating of “Hold” and a consensus price target of $34.50.

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.