A Fund Just Opened an $82 Million Position in Trustmark. Here’s What Investors Should Know
Key Points
North Reef Capital Management added 1,952,930 shares of Trustmark Corporation in the first quarter; the estimated trade size was $82.37 million based on quarterly average pricing.
The quarter-end position value increased by $82.30 million, reflecting both share purchases and market price movement.
The transaction represented 2.8% of North Reef’s 13F reportable assets under management.
The Trustmark stake accounts for 2.8% of assets under management, placing it outside the fund's top five holdings.
- 10 stocks we like better than Trustmark ›
On May 15, 2026, North Reef Capital Management disclosed a new position in Trustmark Corporation (NASDAQ:TRMK), acquiring 1,952,930 shares in the first quarter—an estimated $82.37 million trade based on quarterly average pricing.
What happened
According to a May 15, 2026, SEC filing, North Reef Capital Management established a new position in Trustmark Corporation (NASDAQ:TRMK) during the first quarter, acquiring 1,952,930 shares. The estimated value of the trade was $82.37 million, based on the average closing price for the quarter. At quarter end, the position was valued at $82.30 million, reflecting both the purchase and market price changes.
What else to know
- This was a new position for North Reef Capital Management LP, representing 2.8% of its 13F reportable assets under management as of March 31, 2026.
- Top holdings after the filing:
- NYSE: FHN: $328.96 million (11.3% of AUM)
- NASDAQ: MKTX: $309.34 million (10.6% of AUM)
- NYSE: ABCB: $266.98 million (9.2% of AUM)
- NYSE: KEY: $253.63 million (8.7% of AUM)
- NASDAQ: SBCF: $176.44 million (6.1% of AUM)
- As of May 15, 2026, Trustmark shares were priced at $43.10, up 20% over the past year.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $695.7 million |
| Net income (TTM) | $226.62 million |
| Dividend yield | 2% |
| Price (as of May 15, 2026) | $43.10 |
Company snapshot
- Trustmark offers a comprehensive suite of financial products and services, including commercial and consumer banking, wealth management, and insurance solutions.
- The firm generates revenue primarily through net interest income, fees from banking and wealth management activities, and insurance commissions.
- It serves individuals, small- to mid-sized businesses, and institutional clients, with a focus on regional markets in the United States.
Trustmark Corporation is a diversified regional financial services provider with a longstanding presence in the U.S. Southeast. The company leverages its broad product portfolio and established branch network to deliver banking, wealth management, and insurance solutions to a wide customer base.
What this transaction means for investors
North Reef already has major exposure to regional banks through holdings like First Horizon, KeyCorp, and Ameris Bancorp, so adding Trustmark signals confidence that the bank’s combination of loan growth, disciplined expenses, and stable credit quality can continue delivering in a tougher rate environment.
Trustmark’s latest quarter gave investors a few reasons to pay attention. First-quarter net income rose to $56.1 million, while diluted EPS climbed to $0.95. Loans held for investment increased 4.8% year over year to $13.9 billion, while deposits expanded to $15.7 billion. The bank also kept its net interest margin steady at 3.81% even as many regional banks continue struggling with deposit costs.
Importantly, management continued buying back stock, repurchasing nearly $20 million of shares during the quarter.
The biggest thing long-term investors should watch now is credit quality. Nonperforming assets climbed to $104 million (from $91.3 million in the previous quarter), driven largely by one commercial credit. Still, with a CET1 ratio of 11.7% and improving tangible book value, Trustmark appears positioned to keep compounding steadily if the broader economy holds up.
Should you buy stock in Trustmark right now?
Before you buy stock in Trustmark, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Trustmark wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $469,293!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,381,332!*
Now, it’s worth noting Stock Advisor’s total average return is 993% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of May 16, 2026.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Ameris Bancorp. The Motley Fool has a disclosure policy.
Recommended Articles
