First Trust Advisors LP grew its stake in Trustmark Corp (NASDAQ:TRMK) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,314 shares of the financial services provider’s stock after buying an additional 7,222 shares during the period. First Trust Advisors LP’s holdings in Trustmark were worth $4,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC purchased a new position in shares of Trustmark in the second quarter worth $169,000. OppenheimerFunds Inc. purchased a new position in shares of Trustmark in the second quarter worth $208,000. Leavell Investment Management Inc. purchased a new position in shares of Trustmark in the second quarter worth $209,000. Creative Planning purchased a new position in shares of Trustmark in the second quarter worth $227,000. Finally, Citadel Advisors LLC purchased a new position in shares of Trustmark in the second quarter worth $299,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Shares of Trustmark stock opened at $31.07 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.79. Trustmark Corp has a 1 year low of $28.56 and a 1 year high of $36.32. The firm has a market cap of $2.13 billion, a P/E ratio of 16.18 and a beta of 0.98.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.03). Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The business had revenue of $157.23 million for the quarter, compared to analysts’ expectations of $155.38 million. During the same period last year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Trustmark Corp will post 2.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.96%. Trustmark’s dividend payout ratio (DPR) is presently 47.92%.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. BidaskClub raised shares of Trustmark from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Hovde Group set a $35.00 target price on shares of Trustmark and gave the stock a “hold” rating in a report on Saturday, July 28th. SunTrust Banks reduced their target price on shares of Trustmark from $36.00 to $31.00 and set a “hold” rating for the company in a report on Monday, October 29th. Finally, Sandler O’Neill reissued a “hold” rating and set a $35.00 target price on shares of Trustmark in a report on Thursday, July 26th. Eight research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $34.50.

COPYRIGHT VIOLATION WARNING: This story was first reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.dailypolitical.com/2018/11/22/trustmark-corp-trmk-shares-bought-by-first-trust-advisors-lp.html.

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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.

Further Reading: Marijuana Stocks Investing Considerations

Want to see what other hedge funds are holding TRMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trustmark Corp (NASDAQ:TRMK).

Institutional Ownership by Quarter for Trustmark (NASDAQ:TRMK)

Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.