Short Interest in Trustmark Co. (NASDAQ:TRMK) Increases By 18.1%

Trustmark Co. (NASDAQ:TRMK) saw 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 daily volume of 312,700 shares, the days-to-cover ratio is presently 4.8 days. Currently, 2.7% of the shares of the company are short sold.

Trustmark Stock Up 0.3 %

NASDAQ:TRMK traded up $0.10 during trading hours on Friday, hitting $37.50. 394,496 shares of the company’s stock traded hands, compared to its average volume of 285,106. The stock’s fifty day moving average price is $36.47 and its two-hundred day moving average price is $34.65. The firm has a market cap of $2.29 billion, a P/E ratio of 10.30 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a twelve month low of $25.24 and a twelve month high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, beating 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%. On average, research analysts expect that Trustmark will post 3.2 earnings per share for the current fiscal year.

Trustmark Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Trustmark

In related news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $38.59, for a total transaction of $270,130.00. Following the transaction, the director now owns 16,500 shares in the company, valued at $636,735. This trade represents a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in Trustmark by 124.7% during the third quarter. Barclays PLC now owns 125,743 shares of the financial services provider’s stock valued at $4,001,000 after buying an additional 69,779 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Trustmark by 6.8% during the third quarter. Principal Financial Group Inc. now owns 598,969 shares of the financial services provider’s stock valued at $19,059,000 after purchasing an additional 37,989 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Trustmark by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 122,956 shares of the financial services provider’s stock valued at $3,912,000 after purchasing an additional 11,934 shares during the period. State Street Corp boosted its holdings in shares of Trustmark by 0.8% during the 3rd quarter. State Street Corp now owns 3,090,988 shares of the financial services provider’s stock worth $98,355,000 after buying an additional 24,450 shares during the period. Finally, Geode Capital Management LLC lifted its position in Trustmark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,461,545 shares of the financial services provider’s stock worth $46,515,000 after acquiring an additional 15,627 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

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.