Trustmark Corporation $TRMK Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in shares of Trustmark Corporation (NASDAQ:TRMK) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,109 shares of the financial services provider’s stock after buying an additional 25,164 shares during the period. Federated Hermes Inc. owned 0.61% of Trustmark worth $14,617,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Richardson Financial Services Inc. grew its holdings in shares of Trustmark by 86.7% during the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock worth $29,000 after buying an additional 345 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Trustmark by 452.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,022 shares during the period. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Trustmark in the third quarter valued at about $205,000. Cetera Investment Advisers acquired a new stake in shares of Trustmark during the 2nd quarter valued at approximately $207,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Trustmark during the second quarter worth $208,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Stock Up 0.5%

Shares of Trustmark stock opened at $42.52 on Friday. Trustmark Corporation has a 1-year low of $29.77 and a 1-year high of $43.29. The business has a 50-day moving average of $40.26 and a 200-day moving average of $39.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.87. The company has a market capitalization of $2.55 billion, a PE ratio of 11.46 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $209.44 million for the quarter, compared to analyst estimates of $207.05 million. Trustmark had a return on equity of 10.77% and a net margin of 19.95%.During the same period in the prior year, the company posted $0.92 EPS. As a group, equities analysts forecast that Trustmark Corporation will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 27th. Trustmark’s payout ratio is 25.88%.

Analysts Set New Price Targets

Several research firms have weighed in on TRMK. Hovde Group raised their target price on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a report on Thursday. Wall Street Zen cut Trustmark from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. DA Davidson raised their target price on shares of Trustmark from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.83.

Trustmark Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.