Trade Report: The Bank of Montreal Can Invests $3,034,000 in Trustmark Corp. (TRMK)

The Bank of Montreal Can Invests $3,034,000 in Trustmark Corp. (TRMK)

Bank of Montreal Can bought a new stake in shares of Trustmark Corp. (NASDAQ:TRMK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 122,084 shares of the financial services provider’s stock, valued at approximately $3,034,000.

A number of other large investors have also recently modified their holdings of TRMK. Keel Point LLC purchased a new stake in shares of Trustmark Corp. during the second quarter valued at about $210,000. Alpha Windward LLC bought a new position in Trustmark Corp. during the second quarter valued at $409,000. Meeder Asset Management Inc. boosted its position in Trustmark Corp. by 2.4% in the second quarter. Meeder Asset Management Inc. now owns 25,176 shares of the financial services provider’s stock valued at $626,000 after buying an additional 585 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Trustmark Corp. during the first quarter valued at $800,000. Finally, BNP Paribas Arbitrage SA boosted its position in Trustmark Corp. by 544.5% in the second quarter. BNP Paribas Arbitrage SA now owns 43,294 shares of the financial services provider’s stock valued at $1,076,000 after buying an additional 36,577 shares in the last quarter. Institutional investors and hedge funds own 61.23% of the company’s stock.

Shares of Trustmark Corp. (NASDAQ:TRMK) traded down 0.70% on Monday, hitting $26.99. 200,724 shares of the stock traded hands. Trustmark Corp. has a 52 week low of $19.75 and a 52 week high of $28.71. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 17.41 and a beta of 1.13. The stock has a 50 day moving average price of $27.77 and a 200-day moving average price of $25.61.

Trustmark Corp. (NASDAQ:TRMK) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Trustmark Corp. had a net margin of 17.44% and a return on equity of 7.47%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that Trustmark Corp. will post $1.64 EPS for the current year.

Several research analysts have weighed in on the stock. Jefferies Group increased their price target on shares of Trustmark Corp. from $25.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Keefe, Bruyette & Woods raised shares of Trustmark Corp. from an “underperform” rating to a “market perform” rating and increased their price target for the company from $23.00 to $25.00 in a report on Thursday, July 28th. Finally, Zacks Investment Research cut shares of Trustmark Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.75.

Trustmark Corp. Company Profile

Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.

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