BankPlus Wealth Management LLC Takes $433,000 Position in Trustmark Co. (NASDAQ:TRMK)

BankPlus Wealth Management LLC bought a new position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 12,249 shares of the financial services provider's stock, valued at approximately $433,000.

Several other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in Trustmark by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 199,367 shares of the financial services provider's stock worth $5,989,000 after acquiring an additional 14,630 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Trustmark during the 2nd quarter valued at $1,372,000. Susquehanna Fundamental Investments LLC acquired a new stake in Trustmark during the 2nd quarter valued at $388,000. Magnolia Capital Advisors LLC bought a new position in Trustmark during the 2nd quarter worth $1,081,000. Finally, Sanctuary Advisors LLC bought a new position in Trustmark during the 2nd quarter worth $441,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Price Performance

Trustmark stock traded up $0.10 during midday trading on Friday, reaching $37.50. The company's stock had a trading volume of 394,496 shares, compared to its average volume of 323,621. Trustmark Co. has a 52 week low of $25.24 and a 52 week high of $40.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $36.51 and a 200-day moving average price of $34.60. The stock has a market cap of $2.29 billion, a PE ratio of 10.30 and a beta of 0.76.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.27% and a net margin of 19.42%. On average, sell-side analysts predict that Trustmark Co. will post 3.2 EPS for the current year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark's dividend payout ratio (DPR) is presently 25.27%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRMK. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. DA Davidson raised their price target on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday. Hovde Group raised their price target on Trustmark from $34.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. Janney Montgomery Scott initiated coverage on Trustmark in a research report on Friday, January 24th. They issued a "buy" rating and a $42.00 price target on the stock. Finally, Truist Financial raised their price target on Trustmark from $35.00 to $36.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.83.

Insider Activity

In related news, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the transaction, the director now directly owns 16,500 shares of the company's stock, valued at $636,735. The trade was a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company's stock.

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.