Federated Hermes Inc. Grows Holdings in Trustmark Co. (NASDAQ:TRMK)

Federated Hermes Inc. lifted its stake in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 2,226.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 329,081 shares of the financial services provider's stock after acquiring an additional 314,937 shares during the period. Federated Hermes Inc. owned approximately 0.54% of Trustmark worth $9,175,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TRMK. Headlands Technologies LLC bought a new stake in shares of Trustmark during the third quarter worth $28,000. Arlington Trust Co LLC bought a new stake in shares of Trustmark during the fourth quarter worth $84,000. Nisa Investment Advisors LLC grew its position in Trustmark by 1,029.7% in the third quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 5,519 shares in the last quarter. Advisor Resource Council bought a new position in Trustmark in the fourth quarter valued at $230,000. Finally, Teza Capital Management LLC bought a new position in Trustmark in the third quarter valued at $242,000. Institutional investors own 67.64% of the company's stock.

Trustmark Stock Performance

Shares of TRMK traded up $0.46 during midday trading on Thursday, reaching $29.82. The stock had a trading volume of 739,757 shares, compared to its average volume of 282,886. The firm has a 50 day simple moving average of $26.79 and a 200-day simple moving average of $25.46. Trustmark Co. has a one year low of $18.96 and a one year high of $30.09. The firm has a market cap of $1.82 billion, a PE ratio of 11.60 and a beta of 0.82. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK - Get Free Report) 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 net margin of 13.82% and a return on equity of 10.16%. The company had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. During the same quarter last year, the firm posted $0.82 EPS. As a group, sell-side analysts anticipate that Trustmark Co. will post 2.44 EPS for the current year.

Trustmark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark's dividend payout ratio (DPR) is presently 35.80%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Trustmark from a "sell" rating to a "hold" rating in a research report on Friday, April 19th. TheStreet raised shares of Trustmark from a "c+" rating to a "b" rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised shares of Trustmark from a "market perform" rating to an "outperform" rating and raised their target price for the company from $30.00 to $36.00 in a research report on Thursday. Truist Financial raised their target price on shares of Trustmark from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, April 1st. Finally, DA Davidson raised their target price on shares of Trustmark from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Trustmark presently has a consensus rating of "Hold" and an average price target of $32.25.

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.