Trustmark Co. (NASDAQ:TRMK) Short Interest Up 20.4% in July

Trustmark Co. (NASDAQ:TRMK) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,830,000 shares, a growth of 20.4% from the July 15th total of 1,520,000 shares. Based on an average trading volume of 275,000 shares, the short-interest ratio is presently 6.7 days. Approximately 3.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TRMK. Truist Financial raised their price target on Trustmark from $31.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. DA Davidson boosted their target price on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and upped their price target for the company from $30.00 to $36.00 in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Institutional Trading of Trustmark

Several hedge funds and other institutional investors have recently modified their holdings of TRMK. GAMMA Investing LLC boosted its position in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after buying an additional 351 shares during the period. EntryPoint Capital LLC acquired a new position in Trustmark during the 1st quarter worth approximately $52,000. Innealta Capital LLC bought a new position in shares of Trustmark during the 2nd quarter worth approximately $61,000. CWM LLC raised its holdings in shares of Trustmark by 14.6% in the second quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new stake in shares of Trustmark in the second quarter worth $238,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

Trustmark Trading Up 0.7 %

Shares of Trustmark stock traded up $0.21 during trading hours on Friday, hitting $31.87. The company’s stock had a trading volume of 304,483 shares, compared to its average volume of 279,385. Trustmark has a 12 month low of $18.96 and a 12 month high of $35.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $1.95 billion, a PE ratio of 12.29 and a beta of 0.75. The stock has a 50 day moving average of $30.92 and a 200 day moving average of $28.92.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $283.96 million for the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same period last year, the company posted $0.74 EPS. Analysts predict that Trustmark will post 2.37 earnings per share for the current year.

Trustmark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, August 30th. Trustmark’s payout ratio is presently 35.80%.

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.