Trustmark Co. (NASDAQ:TRMK) Sees Significant Increase in Short Interest

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 stock are sold short. Based on an average daily volume of 289,200 shares, the short-interest ratio is presently 6.2 days.

Trustmark Price Performance

Shares of NASDAQ TRMK opened at $34.38 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $2.09 billion, a PE ratio of 9.45 and a beta of 0.71. The business has a 50-day simple moving average of $35.95 and a two-hundred day simple moving average of $35.46. Trustmark has a fifty-two week low of $25.41 and a fifty-two week high of $40.73.

Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a return on equity of 10.12% and a net margin of 19.42%. As a group, equities analysts expect that Trustmark will post 3.42 EPS for the current fiscal year.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.24 per share. This is an increase from Trustmark’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.79%. Trustmark’s payout ratio is 26.37%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors and hedge funds have recently modified their holdings of TRMK. Jones Financial Companies Lllp acquired a new stake in shares of Trustmark during the fourth quarter worth about $37,000. Lazard Asset Management LLC acquired a new stake in shares of Trustmark during the fourth quarter worth about $47,000. Sterling Capital Management LLC lifted its holdings in shares of Trustmark by 817.7% during 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 period. 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. Finally, Public Employees Retirement System of Ohio raised its position in Trustmark by 165.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,289 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 67.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TRMK shares. Keefe, Bruyette & Woods lifted their target price on Trustmark from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. DA Davidson lifted their target price on Trustmark from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Janney Montgomery Scott started coverage on Trustmark in a report on Friday, January 24th. They issued a “buy” rating and a $42.00 price target for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.67.

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.