153,479 Shares in Trustmark Corporation $TRMK Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new stake in shares of Trustmark Corporation (NASDAQ:TRMK) in the second quarter, HoldingsChannel.com reports. The firm bought 153,479 shares of the financial services provider’s stock, valued at approximately $7,062,000. Trustmark makes up about 1.2% of Magnolia Capital Advisors LLC’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in Trustmark by 1,129.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 848 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 779 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Trustmark during the 4th quarter valued at about $36,000. EverSource Wealth Advisors LLC grew its stake in shares of Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Trustmark during the 2nd quarter valued at about $63,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Trustmark during the 4th quarter valued at about $55,000. 67.64% of the stock is owned by institutional investors.

Trustmark Trading Up 0.3%

Shares of TRMK stock opened at $46.24 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a fifty day simple moving average of $46.73 and a two-hundred day simple moving average of $44.76. The firm has a market capitalization of $2.69 billion, a PE ratio of 11.74 and a beta of 0.65. Trustmark Corporation has a 52-week low of $36.33 and a 52-week high of $49.00.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $213.38 million for the quarter, compared to the consensus estimate of $210.30 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. On average, analysts predict that Trustmark Corporation will post 3.93 EPS for the current fiscal year.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Trustmark’s dividend payout ratio (DPR) is 25.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. DA Davidson boosted their target price on shares of Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.12.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.