Trustmark Co. (NASDAQ:TRMK) Short Interest Update

Trustmark Co. (NASDAQ:TRMK) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,500,000 shares, a growth of 18.1% from the December 31st total of 1,270,000 shares. Based on an average trading volume of 312,700 shares, the days-to-cover ratio is presently 4.8 days. Approximately 2.7% of the shares of the company are short sold.

Insider Transactions at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the transaction, the director now owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Trustmark

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GoalVest Advisory LLC purchased a new stake in Trustmark during the third quarter worth approximately $63,000. nVerses Capital LLC acquired a new position in Trustmark during the 3rd quarter worth approximately $67,000. KBC Group NV boosted its holdings in Trustmark by 43.0% in the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Trustmark during the third quarter valued at approximately $130,000. Finally, Blue Trust Inc. lifted its position in shares of Trustmark by 225.2% during the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Price Performance

Shares of TRMK traded up $0.10 during trading hours on Friday, reaching $37.50. 394,496 shares of the company traded hands, compared to its average volume of 285,106. The stock has a fifty day simple moving average of $36.47 and a 200 day simple moving average of $34.65. Trustmark has a fifty-two week low of $25.24 and a fifty-two week high of $40.73. The stock has a market capitalization of $2.29 billion, a PE ratio of 10.30 and a beta of 0.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.27%. As a group, research analysts predict that Trustmark will post 3.2 EPS for the current fiscal year.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.24 dividend. This is a positive change from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 28th. Trustmark’s payout ratio is currently 25.27%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRMK. Hovde Group lifted their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Truist Financial lifted their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Janney Montgomery Scott initiated coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price objective on the stock. DA Davidson upped their price target on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.83.

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.