Trustmark Corp (NASDAQ:TRMK) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,300,000 shares, a drop of 16.1% from the June 15th total of 2,740,000 shares. Based on an average trading volume of 419,500 shares, the days-to-cover ratio is presently 5.5 days. Approximately 3.7% of the company’s shares are sold short.
TRMK traded down $0.61 during trading on Tuesday, reaching $22.70. 8,024 shares of the stock were exchanged, compared to its average volume of 557,587. The stock has a market cap of $1.46 billion, a P/E ratio of 10.61 and a beta of 1.09. Trustmark has a twelve month low of $20.26 and a twelve month high of $36.04. The stock’s 50 day moving average price is $23.98 and its two-hundred day moving average price is $27.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.84.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.09). The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $153.50 million. Trustmark had a return on equity of 8.81% and a net margin of 19.11%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Equities research analysts predict that Trustmark will post 1.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.05%. Trustmark’s payout ratio is presently 37.55%.
In other news, Director Richard H. Puckett acquired 5,000 shares of Trustmark stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $22.98 per share, with a total value of $114,900.00. Following the purchase, the director now directly owns 30,302 shares of the company’s stock, valued at $696,339.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TRMK. Victory Capital Management Inc. lifted its position in Trustmark by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 108,168 shares of the financial services provider’s stock worth $3,733,000 after purchasing an additional 3,170 shares during the period. Bank of Montreal Can lifted its position in Trustmark by 84.7% during the fourth quarter. Bank of Montreal Can now owns 20,413 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 9,360 shares during the period. KBC Group NV lifted its position in Trustmark by 92.2% during the fourth quarter. KBC Group NV now owns 27,433 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 13,162 shares during the period. Envestnet Asset Management Inc. raised its stake in Trustmark by 8.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,498 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 2,158 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Trustmark by 6.0% during the fourth quarter. Prudential Financial Inc. now owns 44,705 shares of the financial services provider’s stock worth $1,543,000 after acquiring an additional 2,520 shares in the last quarter. 63.43% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on TRMK shares. BidaskClub lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Investment Research upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark from an “underperform” rating to a “market perform” rating and set a $25.00 price objective on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.00.
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 offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; 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.
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