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

Trustmark Co. (NASDAQ:TRMK) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,560,000 shares, a growth of 118.8% from the August 15th total of 1,170,000 shares. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 472,300 shares, the days-to-cover ratio is currently 5.4 days.

Separately, Zacks Investment Research downgraded Trustmark from a “buy” rating to a “hold” rating in a research report on Tuesday, August 3rd.

TRMK stock opened at $30.53 on Friday. The company has a market cap of $1.91 billion, a P/E ratio of 9.39 and a beta of 1.05. Trustmark has a twelve month low of $20.08 and a twelve month high of $36.31. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $30.57 and a 200-day moving average of $32.18.

Trustmark (NASDAQ:TRMK) last released its earnings results on Monday, July 26th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $178.79 million during the quarter, compared to the consensus estimate of $170.78 million. Trustmark had a return on equity of 11.77% and a net margin of 27.89%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts anticipate that Trustmark will post 2.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.01%. Trustmark’s dividend payout ratio (DPR) is presently 35.94%.

Several institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. grew its stake in shares of Trustmark by 4.0% during the second quarter. Advisor Group Holdings Inc. now owns 8,944 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 345 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Trustmark by 1.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 30,105 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 368 shares during the period. Ziegler Capital Management LLC grew its stake in shares of Trustmark by 0.7% during the second quarter. Ziegler Capital Management LLC now owns 55,646 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 397 shares during the period. State of Michigan Retirement System grew its stake in Trustmark by 1.7% in the first quarter. State of Michigan Retirement System now owns 23,492 shares of the financial services provider’s stock valued at $791,000 after acquiring an additional 400 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in Trustmark by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 21,873 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 534 shares during the period. 61.16% of the stock is owned by institutional investors and hedge funds.

About Trustmark

Trustmark Corp. is a bank holding company. The firm engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management and Insurance. The General Banking segment offers traditional banking products & services, including commercial and consumer banking services, such as checking accounts, savings programs, overdraft facilities, commercial, installment & real estate loans, home equity loans, lines of credit, drive-in & night deposit services and safe deposit facilities.

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