Federated Hermes Inc. Purchases 2,050 Shares of Trustmark Corporation (NASDAQ:TRMK)

Federated Hermes Inc. grew its holdings in shares of Trustmark Corporation (NASDAQ:TRMK) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 341,927 shares of the financial services provider’s stock after purchasing an additional 2,050 shares during the period. Federated Hermes Inc. owned approximately 0.56% of Trustmark worth $11,793,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Trustmark during the 4th quarter valued at about $1,145,000. KLP Kapitalforvaltning AS purchased a new position in Trustmark in the 4th quarter worth approximately $428,000. LPL Financial LLC boosted its stake in Trustmark by 25.0% during the fourth quarter. LPL Financial LLC now owns 64,387 shares of the financial services provider’s stock worth $2,277,000 after buying an additional 12,890 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Trustmark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,686,247 shares of the financial services provider’s stock valued at $236,493,000 after acquiring an additional 30,057 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Trustmark by 176.2% in the fourth quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider’s stock worth $12,014,000 after acquiring an additional 216,706 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $36.56 on Friday. The company has a 50-day simple moving average of $36.42 and a 200-day simple moving average of $35.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.86. The company has a market cap of $2.21 billion, a PE ratio of 10.27 and a beta of 0.66. Trustmark Corporation has a 12 month low of $29.77 and a 12 month high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The business had revenue of $203.44 million during the quarter, compared to the consensus estimate of $200.35 million. Trustmark had a return on equity of 10.81% and a net margin of 19.21%. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 29th. Trustmark’s dividend payout ratio (DPR) is 26.97%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TRMK. Hovde Group boosted their price target on shares of Trustmark from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded Trustmark from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. DA Davidson lifted their price target on Trustmark from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on Trustmark from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.00.

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.