Trustmark Co. (NASDAQ:TRMK) Short Interest Update

Trustmark Co. (NASDAQ:TRMK) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,780,000 shares, a growth of 21.1% from the February 13th total of 1,470,000 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily volume of 289,200 shares, the days-to-cover ratio is currently 6.2 days.

Analyst Ratings Changes

A number of research analysts have commented on the company. Janney Montgomery Scott started coverage on Trustmark in a research report on Friday, January 24th. They set a “buy” rating and a $42.00 price target for the company. Keefe, Bruyette & Woods upped their target price on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, DA Davidson lifted their price target on shares of Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

Hedge Funds Weigh In On Trustmark

Several institutional investors and hedge funds have recently modified their holdings of TRMK. Jones Financial Companies Lllp purchased a new position in Trustmark in the 4th quarter worth approximately $37,000. Lazard Asset Management LLC bought a new position in Trustmark in the fourth quarter valued at about $47,000. Sterling Capital Management LLC boosted its position in Trustmark by 817.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,918 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,709 shares during the last quarter. KBC Group NV boosted its position in Trustmark by 43.0% in 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 last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Trustmark by 165.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 2,051 shares during the period. 67.64% of the stock is currently owned by institutional investors.

Trustmark Stock Down 0.4 %

Trustmark stock traded down $0.13 on Tuesday, hitting $34.23. 23,022 shares of the stock traded hands, compared to its average volume of 258,261. The business’s fifty day simple moving average is $35.96 and its 200 day simple moving average is $35.44. The firm has a market cap of $2.08 billion, a P/E ratio of 9.38 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 1 year low of $25.41 and a 1 year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data 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 10.12%. As a group, sell-side analysts forecast that Trustmark will post 3.42 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. Trustmark’s payout ratio is 26.37%.

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.