Federated Hermes Inc. Has $9.18 Million Holdings in Trustmark Co. (NASDAQ:TRMK)

Federated Hermes Inc. raised its holdings in Trustmark Co. (NASDAQ:TRMK) by 2,226.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 329,081 shares of the financial services provider’s stock after buying an additional 314,937 shares during the quarter. Federated Hermes Inc. owned 0.54% of Trustmark worth $9,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Trustmark by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 831,103 shares of the financial services provider’s stock valued at $18,060,000 after acquiring an additional 100,091 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Trustmark by 28.8% during the third quarter. American Century Companies Inc. now owns 372,172 shares of the financial services provider’s stock valued at $8,087,000 after acquiring an additional 83,181 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings 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 valued at $3,825,000 after acquiring an additional 124,890 shares in the last quarter. Victory Capital Management Inc. increased its holdings 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 valued at $3,442,000 after acquiring an additional 135,202 shares in the last quarter. Finally, Ignite Planners LLC increased its holdings 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 valued at $3,961,000 after acquiring an additional 128,623 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on TRMK. Piper Sandler restated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a report on Tuesday, March 26th. 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. Keefe, Bruyette & Woods upped their price target on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Finally, Truist Financial upped their price target on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.67.

Trustmark Stock Up 6.6 %

Shares of NASDAQ:TRMK opened at $29.36 on Thursday. The company has a market capitalization of $1.80 billion, a PE ratio of 10.83 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The business has a fifty day moving average price of $26.74 and a two-hundred day moving average price of $25.43. Trustmark Co. has a 1 year low of $18.96 and a 1 year high of $29.84.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. During the same quarter in the prior year, the company earned $0.82 EPS. Analysts forecast that Trustmark Co. will post 2.44 earnings per share for the current year.

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.