Federated Hermes Inc. Acquires 314,937 Shares of Trustmark Co. (NASDAQ:TRMK)

Federated Hermes Inc. raised its holdings in Trustmark Co. (NASDAQ:TRMK) by 2,226.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 329,081 shares of the financial services provider’s stock after buying an additional 314,937 shares during the quarter. Federated Hermes Inc.’s holdings in Trustmark were worth $9,175,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Trustmark by 11.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock worth $385,000 after buying an additional 1,449 shares during the last quarter. VELA Investment Management LLC boosted its position in shares of Trustmark by 8.6% during the fourth quarter. VELA Investment Management LLC now owns 35,037 shares of the financial services provider’s stock valued at $977,000 after purchasing an additional 2,789 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $853,000. Arlington Trust Co LLC bought a new stake in shares of Trustmark during the fourth quarter valued at approximately $84,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Trustmark by 3.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 1,047 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Trading Up 6.6 %

Trustmark stock opened at $29.36 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $26.74 and its two-hundred day simple moving average is $25.43. Trustmark Co. has a 12 month low of $18.96 and a 12 month high of $29.84. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 10.83 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The firm had revenue of $288.55 million during the quarter, compared to analysts’ expectations of $187.03 million. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, equities analysts predict that Trustmark Co. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. DA Davidson restated a “neutral” rating on shares of Trustmark in a research report on Monday, January 15th. Truist Financial lifted their price target on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Trustmark presently has a consensus rating of “Hold” and an average price target of $29.67.

Trustmark Company Profile

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.