Mirae Asset Global Investments Co. Ltd. Buys 1,047 Shares of Trustmark Co. (NASDAQ:TRMK)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK) by 3.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,802 shares of the financial services provider’s stock after acquiring an additional 1,047 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trustmark were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TRMK. Victory Capital Management Inc. raised its position in shares of Trustmark by 582.9% during the third quarter. Victory Capital Management Inc. now owns 158,395 shares of the financial services provider’s stock worth $3,442,000 after acquiring an additional 135,202 shares during the last quarter. Ignite Planners LLC raised its position in shares of Trustmark by 924.4% during the fourth quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after acquiring an additional 128,623 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Trustmark by 244.2% during the third quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after acquiring an additional 124,890 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Trustmark by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock worth $18,060,000 after purchasing an additional 100,091 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Trustmark by 28.8% in the third quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock worth $8,087,000 after purchasing an additional 83,181 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRMK shares. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. DA Davidson reiterated a “neutral” rating on shares of Trustmark in a report on Monday, January 15th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Keefe, Bruyette & Woods lifted their target price on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus price target of $29.67.

Trustmark Trading Up 6.6 %

Shares of Trustmark stock opened at $29.36 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. Trustmark Co. has a 52 week low of $18.96 and a 52 week high of $29.84. The stock has a 50 day moving average price of $26.74 and a two-hundred day moving average price of $25.43. The stock has a market capitalization of $1.80 billion, a PE ratio of 10.78 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.82 earnings per share. As a group, equities analysts anticipate that Trustmark Co. will post 2.44 earnings per share for the current fiscal year.

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.