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

Elizabeth Park Capital Advisors Ltd. boosted its position in Trustmark Corporation (NASDAQ:TRMK) by 40.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,071 shares of the financial services provider’s stock after acquiring an additional 24,938 shares during the quarter. Trustmark accounts for approximately 2.7% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 15th largest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.14% of Trustmark worth $3,003,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Trustmark in the fourth quarter valued at $47,000. IFP Advisors Inc bought a new position in shares of Trustmark during the first quarter valued at about $51,000. GAMMA Investing LLC grew its stake in shares of Trustmark by 41.0% during the first quarter. GAMMA Investing LLC now owns 1,809 shares of the financial services provider’s stock valued at $62,000 after buying an additional 526 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Trustmark during the fourth quarter valued at about $82,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after buying an additional 2,051 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Insider Activity

In other Trustmark news, Director Marcelo L. Eduardo sold 700 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.49, for a total value of $26,943.00. Following the completion of the sale, the director directly owned 8,577 shares in the company, valued at $330,128.73. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerard R. Host sold 20,970 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.49, for a total transaction of $807,135.30. Following the completion of the sale, the director owned 158,360 shares of the company’s stock, valued at $6,095,276.40. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Trustmark Stock Up 1.1%

NASDAQ TRMK opened at $40.60 on Wednesday. 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 stock has a market capitalization of $2.45 billion, a PE ratio of 11.40 and a beta of 0.70. Trustmark Corporation has a 1 year low of $29.77 and a 1 year high of $40.73. The business’s 50-day moving average is $37.70 and its 200 day moving average is $35.67.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $203.44 million for the quarter, compared to analysts’ expectations of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%.During the same period last year, the firm earned $0.66 earnings per share. Sell-side analysts forecast that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.4%. Trustmark’s dividend payout ratio (DPR) is 26.97%.

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.