Trustmark Co. (NASDAQ: TRMK) was the target of a significant drop in short interest rates in September. As of September 30, there was short interest totaling 1,520,000 shares, a decrease of 27.6% from the total of 2,100,000 shares as of September 15. Based on an average daily trading volume of 503,900 shares, the day-to-coverage ratio is currently 3.0 days. About 2.7% of stocks are sold short.
Separately, Zacks Investment Research upgraded the Trustmark from a “hold” rating to a “buy” rating and set a price target of $ 37.00 on the stock in a research note on Friday, October 1.
Trustmark stock opened at $ 33.04 on Friday. The stock’s 50-day moving average is $ 31.48 and its 200-day moving average is $ 31.96. The company has a debt ratio of 0.10, a current ratio of 0.85, and a quick ratio of 0.83. The company has a market cap of $ 2.06 billion, a P / E ratio of 10.17 and a beta of 1.05. Trustmark has a one year minimum of $ 22.41 and a one year maximum of $ 36.31.
Trustmark (NASDAQ: TRMK) last released its quarterly earnings data on Monday, July 26. The financial services provider reported EPS of $ 0.76 for the quarter, beating the Zacks consensus estimate of $ 0.67 by $ 0.09. The company posted revenue of $ 178.79 million for the quarter, compared to analysts’ estimates of $ 170.78 million. Trustmark had a return on equity of 11.77% and a net margin of 27.89%. The company’s quarterly revenue increased 0.7% year-on-year. During the same period of the previous year, the company achieved earnings per share of $ 0.51. Stock analysts expect Trustmark to post earnings per share of 2.54 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15. Investors of record on Wednesday, September 1, received a dividend of $ 0.23 per share. The ex-dividend date was Tuesday August 31. This represents an annualized dividend of $ 0.92 and a return of 2.78%. Trustmark’s dividend payout ratio (DPR) is currently 35.94%.
A number of institutional investors have recently changed their positions in TRMK. Bbva USA purchased a new equity stake in Trustmark during the 2nd quarter for a value of $ 26,000. Panagora Asset Management Inc. increased its holdings in Trustmark by 58.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 2,260 shares of the financial services provider valued at $ 70,000 after acquiring 837 additional shares during the period. First Bank & Trust increased its stake in Trustmark by 50.9% in the 2nd quarter. First Bank & Trust now owns 4,081 shares of the financial services provider valued at $ 126,000 after acquiring an additional 1,376 shares during the period. Trexquant Investment LP purchased a new stake in Trustmark during the 2nd quarter for a value of approximately $ 207,000. Finally, Ergoteles LLC purchased a new stake in Trustmark during the second quarter for a value of approximately $ 209,000. Institutional investors and hedge funds hold 61.16% of the company’s shares.
Trustmark Company Profile
Trustmark Corp. is a bank holding company. The firm offers 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 and services, including commercial and consumer banking services, such as chequing accounts, savings programs, overdraft facilities, commercial, installment and real estate loans, home equity loans, lines of credit, drive-thru and overnight deposit services and safes.
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