GAMMA Investing LLC Acquires 419 Shares of Trustmark Corporation $TRMK

GAMMA Investing LLC boosted its holdings in Trustmark Corporation (NASDAQ:TRMK) by 23.2% during the second quarter, Holdings Channel reports. The fund owned 2,228 shares of the financial services provider’s stock after purchasing an additional 419 shares during the period. GAMMA Investing LLC’s holdings in Trustmark were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc bought a new position in shares of Trustmark in the first quarter valued at about $51,000. State of Wyoming bought a new position in Trustmark during the 1st quarter worth $52,000. Public Employees Retirement System of Ohio increased its position in Trustmark by 165.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock worth $116,000 after buying an additional 2,051 shares during the period. CWM LLC increased its position in Trustmark by 9.7% during the first quarter. CWM LLC now owns 5,655 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 502 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Trustmark in the 4th quarter worth about $212,000. 67.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 1,556 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.63, for a total transaction of $63,220.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 700 shares of the business’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 $26,943.00. Following the sale, the director directly owned 8,577 shares of the company’s stock, valued at approximately $330,128.73. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,226 shares of company stock valued at $897,299. 1.50% of the stock is currently owned by insiders.

Trustmark Stock Down 0.1%

Shares of NASDAQ TRMK opened at $39.05 on Friday. Trustmark Corporation has a 12-month low of $29.77 and a 12-month high of $41.33. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.36 billion, a PE ratio of 10.97 and a beta of 0.67. The company’s fifty day simple moving average is $39.23 and its 200 day simple moving average is $36.45.

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

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 annualized dividend and a yield of 2.5%. Trustmark’s dividend payout ratio (DPR) is presently 26.97%.

Analysts Set New Price Targets

A number of research analysts recently commented on TRMK shares. Zacks Research cut Trustmark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Wall Street Zen lowered Trustmark from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. DA Davidson boosted their target price on shares of Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Hovde Group upped their target price on Trustmark from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average target price of $41.00.

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.