Trustmark Corporation $TRMK Holdings Boosted by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in Trustmark Corporation (NASDAQ:TRMK) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,109 shares of the financial services provider’s stock after purchasing an additional 25,164 shares during the period. Federated Hermes Inc.’s holdings in Trustmark were worth $14,617,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. increased its stake in shares of Trustmark by 86.7% in the third quarter. Richardson Financial Services Inc. now owns 743 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 345 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Trustmark by 452.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,022 shares in the last quarter. Smith Shellnut Wilson LLC ADV bought a new position in Trustmark during the third quarter valued at about $205,000. Silverlake Wealth Management LLC bought a new position in shares of Trustmark during the 3rd quarter valued at about $212,000. Finally, Cetera Investment Advisers bought a new stake in Trustmark during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Stock Up 0.5%

TRMK opened at $42.52 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. 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 stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 11.46 and a beta of 0.69.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Trustmark had a net margin of 19.95% and a return on equity of 10.77%. The company had revenue of $209.44 million for the quarter, compared to the consensus estimate of $207.05 million. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, sell-side analysts anticipate that Trustmark Corporation will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. DA Davidson increased their price target on Trustmark from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday. Hovde Group upped their price objective on shares of Trustmark from $42.00 to $44.50 and gave the company a “market perform” rating in a research note on Thursday. Wall Street Zen downgraded Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Trustmark in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.83.

About Trustmark

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.