Federated Hermes Inc. Buys 9,832 Shares of Trustmark Co. (NASDAQ:TRMK)

Federated Hermes Inc. lifted its position in shares of Trustmark Co. (NASDAQ:TRMK - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,877 shares of the financial services provider's stock after acquiring an additional 9,832 shares during the quarter. Federated Hermes Inc. owned 0.56% of Trustmark worth $12,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in shares of Trustmark in the 4th quarter valued at $37,000. KBC Group NV lifted its holdings in shares of Trustmark by 43.0% during the fourth quarter. KBC Group NV now owns 3,163 shares of the financial services provider's stock worth $112,000 after purchasing an additional 951 shares during the period. Cibc World Markets Corp acquired a new position in Trustmark in the 4th quarter valued at $201,000. Blue Trust Inc. increased its stake in shares of Trustmark by 19.0% during the fourth quarter. Blue Trust Inc. now owns 5,896 shares of the financial services provider's stock worth $209,000 after acquiring an additional 943 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Trustmark in the third quarter valued at about $212,000. Hedge funds and other institutional investors own 67.64% of the company's stock.

Trustmark Trading Up 2.4 %

Trustmark stock traded up $0.76 during trading hours on Tuesday, hitting $32.45. The stock had a trading volume of 51,207 shares, compared to its average volume of 297,716. The business's 50 day simple moving average is $34.86 and its 200-day simple moving average is $35.57. Trustmark Co. has a one year low of $25.41 and a one year high of $40.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.93 and a beta of 0.67.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%. On average, equities analysts predict that Trustmark Co. will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.24 per share. This is a positive change from Trustmark's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, February 28th. Trustmark's payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

TRMK has been the subject of several research reports. DA Davidson lifted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Janney Montgomery Scott initiated coverage on shares of Trustmark in a research note on Friday, January 24th. They issued a "buy" rating and a $42.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Trustmark from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.60.

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.