Renaissance Technologies LLC Raises Stake in Trustmark Corporation (TRMK)

Renaissance Technologies LLC boosted its position in Trustmark Corporation (NASDAQ:TRMK) by 49.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,904 shares of the financial services provider’s stock after buying an additional 119,904 shares during the period. Renaissance Technologies LLC owned about 0.54% of Trustmark Corporation worth $11,569,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TRMK. Flinton Capital Management LLC boosted its stake in shares of Trustmark Corporation by 14.1% in the first quarter. Flinton Capital Management LLC now owns 3,232 shares of the financial services provider’s stock worth $103,000 after buying an additional 400 shares during the last quarter. Creative Planning boosted its stake in shares of Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock worth $110,000 after buying an additional 59 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Trustmark Corporation by 14.1% in the first quarter. Meadow Creek Investment Management LLC now owns 4,444 shares of the financial services provider’s stock worth $141,000 after buying an additional 550 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Trustmark Corporation by 14.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,656 shares of the financial services provider’s stock worth $180,000 after buying an additional 700 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock worth $182,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 62.86% of the company’s stock.

Trustmark Corporation (NASDAQ TRMK) opened at 32.15 on Tuesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.38 and a beta of 1.14. Trustmark Corporation has a 52-week low of $25.17 and a 52-week high of $36.79. The company’s 50-day moving average price is $31.86 and its 200 day moving average price is $32.92.

Trustmark Corporation (NASDAQ:TRMK) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Trustmark Corporation had a return on equity of 7.78% and a net margin of 18.41%. The company had revenue of $148.46 million for the quarter, compared to analyst estimates of $144.60 million. During the same period in the prior year, the firm posted $0.40 EPS. Equities research analysts predict that Trustmark Corporation will post $1.83 earnings per share for the current year.

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A number of analysts have recently issued reports on the company. ValuEngine upgraded Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Hovde Group boosted their target price on Trustmark Corporation from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 target price on shares of Trustmark Corporation in a report on Friday, May 5th. Zacks Investment Research cut Trustmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut Trustmark Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Seven research analysts have rated the stock with a hold rating, Trustmark Corporation currently has a consensus rating of “Hold” and an average target price of $33.75.

In other Trustmark Corporation news, insider Duane A. Dewey sold 5,748 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.85, for a total value of $177,325.80. Following the transaction, the insider now directly owns 27,909 shares of the company’s stock, valued at approximately $860,992.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Harry M. Walker sold 7,381 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $33.53, for a total value of $247,484.93. The disclosure for this sale can be found here. Corporate insiders own 1.37% of the company’s stock.

Trustmark Corporation Company Profile

Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.

Institutional Ownership by Quarter for Trustmark Corporation (NASDAQ:TRMK)

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