Renaissance Technologies LLC Invests $1.89 Million in Trustmark Co. (NASDAQ:TRMK)

Renaissance Technologies LLC acquired a new stake in Trustmark Co. (NASDAQ:TRMK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,362 shares of the financial services provider's stock, valued at approximately $1,887,000. Renaissance Technologies LLC owned about 0.09% of Trustmark as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in shares of Trustmark during the 4th quarter worth about $37,000. KBC Group NV increased its stake in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after purchasing an additional 951 shares during the period. Cibc World Markets Corp acquired a new stake in Trustmark during the 4th quarter worth approximately $201,000. Blue Trust Inc. lifted its holdings in Trustmark by 19.0% during the 4th quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after purchasing an additional 943 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Trustmark in the 4th quarter valued at $217,000. 67.64% of the stock is owned by institutional investors.

Trustmark Stock Performance

TRMK stock traded up $0.47 during midday trading on Thursday, hitting $34.02. The company's stock had a trading volume of 70,271 shares, compared to its average volume of 298,075. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 9.35 and a beta of 0.67. Trustmark Co. has a 1 year low of $27.42 and a 1 year high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock's 50-day moving average price is $33.76 and its 200 day moving average price is $35.64.

Trustmark (NASDAQ:TRMK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The business had revenue of $231.83 million for the quarter, compared to analysts' expectations of $195.38 million. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities analysts forecast that Trustmark Co. will post 3.42 EPS for the current year.

Trustmark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.96 annualized dividend and a yield of 2.82%. Trustmark's dividend payout ratio (DPR) is presently 25.00%.

Analyst Ratings Changes

TRMK has been the subject of several recent research reports. DA Davidson boosted their price target on Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price target on shares of Trustmark from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Hovde Group upped their target price on Trustmark from $36.00 to $37.00 and gave the company a "market perform" rating in a research report on Monday. Finally, Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.80.

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.