Trustmark Co. (NASDAQ:TRMK - Get Free Report) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 21.9% from the February 29th total of 1,140,000 shares. Based on an average daily volume of 262,200 shares, the short-interest ratio is currently 5.3 days. Currently, 2.5% of the shares of the company are sold short.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on TRMK. DA Davidson restated a "neutral" rating on shares of Trustmark in a research report on Monday, January 15th. Piper Sandler reiterated a "neutral" rating and issued a $29.00 price objective on shares of Trustmark in a research report on Tuesday. TheStreet upgraded shares of Trustmark from a "c+" rating to a "b" rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Trustmark from $27.00 to $30.00 and gave the stock a "market perform" rating in a research report on Friday, January 26th. Finally, StockNews.com upgraded shares of Trustmark from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.33.
Read Our Latest Report on TRMK
Institutional Trading of Trustmark
Large investors have recently bought and sold shares of the business. Coppell Advisory Solutions Corp. purchased a new stake in Trustmark during the 4th quarter valued at about $43,000. Headlands Technologies LLC purchased a new stake in Trustmark during the 3rd quarter valued at about $28,000. Point72 Middle East FZE purchased a new stake in Trustmark during the 4th quarter valued at about $82,000. Tower Research Capital LLC TRC grew its stake in Trustmark by 208.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,795 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new stake in Trustmark during the 4th quarter valued at about $84,000. Hedge funds and other institutional investors own 67.64% of the company's stock.
Trustmark Price Performance
Shares of TRMK stock traded up $0.05 on Friday, reaching $28.11. 465,867 shares of the company were exchanged, compared to its average volume of 294,701. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 10.37 and a beta of 0.81. The business has a 50-day moving average price of $26.99 and a 200 day moving average price of $24.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.85. Trustmark has a 1 year low of $18.96 and a 1 year high of $28.65.
Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $189.85 million during the quarter, compared to analysts' expectations of $187.63 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Equities research analysts forecast that Trustmark will post 2.47 earnings per share for the current fiscal year.
Trustmark Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.92 annualized dividend and a yield of 3.27%. Trustmark's dividend payout ratio is presently 33.95%.
Trustmark Company Profile
(
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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.
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