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

Trustmark Co. (NASDAQ:TRMK - Get Free Report) saw a large growth in short interest during 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 short-interest ratio is presently 4.8 days. Approximately 2.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on TRMK shares. Keefe, Bruyette & Woods raised their price target on shares of Trustmark from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday. Truist Financial upped their target price on shares of Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research note on Friday, October 25th. DA Davidson upped their target price on shares of Trustmark from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Hovde Group upped 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. Five investment 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 a consensus rating of "Hold" and an average target price of $38.67.

Insider Transactions at Trustmark

In other Trustmark news, Director Gerard R. Host sold 7,000 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $38.59, for a total value of $270,130.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Trustmark

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Trustmark during the second quarter valued at approximately $1,372,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Trustmark during the second quarter worth about $388,000. Sanctuary Advisors LLC purchased a new position in Trustmark during the 2nd quarter valued at approximately $441,000. SG Americas Securities LLC lifted its stake in shares of Trustmark by 338.4% in the 3rd quarter. SG Americas Securities LLC now owns 17,616 shares of the financial services provider's stock valued at $561,000 after purchasing an additional 13,598 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Trustmark during the 3rd quarter valued at $67,000. 67.64% of the stock is owned by hedge funds and other institutional investors.

Trustmark Stock Performance

Shares of TRMK traded up $0.51 during midday trading on Wednesday, reaching $38.30. 87,851 shares of the stock were exchanged, compared to its average volume of 310,254. The company has a market cap of $2.34 billion, a P/E ratio of 10.51 and a beta of 0.76. The stock's 50 day simple moving average is $36.37 and its 200 day simple moving average is $34.70. Trustmark has a twelve month low of $25.24 and a twelve month 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.

Trustmark (NASDAQ:TRMK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.92 earnings per share (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%. On average, sell-side analysts expect that Trustmark will post 3.4 earnings per share for the current year.

Trustmark Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.51%. This is an increase from Trustmark's previous quarterly dividend of $0.23. Trustmark's dividend payout ratio (DPR) is currently 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.