Quest Partners LLC Invests $309,000 in Trustmark Co. (NASDAQ:TRMK)

Quest Partners LLC purchased a new position in Trustmark Co. (NASDAQ:TRMK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,701 shares of the financial services provider’s stock, valued at approximately $309,000.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Trustmark by 62.1% during the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the last quarter. GoalVest Advisory LLC purchased a new position in Trustmark during the 3rd quarter worth $63,000. Innealta Capital LLC purchased a new position in Trustmark during the 2nd quarter worth $61,000. nVerses Capital LLC purchased a new position in Trustmark during the 3rd quarter worth $67,000. Finally, CWM LLC grew its stake in Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the last quarter. 67.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Gerard R. Host sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the transaction, the director now owns 16,500 shares of the company’s stock, valued at approximately $636,735. This represents a 29.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,206 shares of company stock valued at $1,347,991. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on TRMK shares. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Hovde Group boosted their price target on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. DA Davidson boosted their price target on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price target on Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.20.

Trustmark Stock Up 1.8 %

Shares of TRMK opened at $39.97 on Tuesday. Trustmark Co. has a 52 week low of $22.11 and a 52 week high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 12.08 and a beta of 0.72. The stock’s 50-day moving average price is $34.59 and its 200-day moving average price is $32.24.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $192.77 million. Trustmark had a return on equity of 9.48% and a net margin of 17.62%. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts predict that Trustmark Co. will post 2.94 EPS for the current year.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.23 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.30%. Trustmark’s payout ratio is 27.79%.

About Trustmark

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.