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

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Trustmark Co. (NASDAQ:TRMK) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,802 shares of the financial services provider’s stock after buying 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.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Trustmark by 582.9% during the 3rd quarter. Victory Capital Management Inc. now owns 158,395 shares of the financial services provider’s stock worth $3,442,000 after purchasing an additional 135,202 shares during the last quarter. Ignite Planners LLC raised its holdings in Trustmark by 924.4% during the 4th quarter. Ignite Planners LLC now owns 142,537 shares of the financial services provider’s stock worth $3,961,000 after purchasing an additional 128,623 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Trustmark by 244.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 176,036 shares of the financial services provider’s stock worth $3,825,000 after purchasing an additional 124,890 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Trustmark by 13.7% during the 3rd 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 during the last quarter. Finally, American Century Companies Inc. raised its holdings in Trustmark by 28.8% during the 3rd 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 during the last quarter. 67.64% of the stock is owned by institutional investors.

Trustmark Price Performance

Shares of TRMK 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. The stock has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $25.43. Trustmark Co. has a 52-week low of $18.96 and a 52-week high of $29.84. The firm has a market capitalization of $1.80 billion, a PE ratio of 10.78 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

TRMK has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. Truist Financial upped their price target on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. DA Davidson reaffirmed a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.67.

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.