Trustmark Co. (NASDAQ:TRMK) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,010,000 shares, a decline of 19.8% from the September 15th total of 1,260,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 281,500 shares, the short-interest ratio is presently 3.6 days.
A number of analysts have weighed in on TRMK shares. Raymond James raised Trustmark from an “underperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Zacks Investment Research raised Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. BidaskClub raised Trustmark from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 7th. Piper Sandler cut their price objective on Trustmark from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Finally, ValuEngine cut Trustmark from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.
A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE raised its holdings in Trustmark by 43.5% in the 1st quarter. US Bancorp DE now owns 2,138 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 648 shares in the last quarter. Legal & General Group Plc raised its holdings in Trustmark by 0.8% in the 1st quarter. Legal & General Group Plc now owns 100,161 shares of the financial services provider’s stock valued at $2,333,000 after acquiring an additional 764 shares in the last quarter. Federated Hermes Inc. raised its holdings in Trustmark by 5.6% in the 1st quarter. Federated Hermes Inc. now owns 17,920 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 952 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Trustmark in the 2nd quarter valued at approximately $27,000. Finally, Advisor Group Holdings Inc. raised its holdings in Trustmark by 23.8% in the 2nd quarter. Advisor Group Holdings Inc. now owns 6,550 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 1,258 shares in the last quarter. 60.76% of the stock is owned by hedge funds and other institutional investors.
Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.25 by $0.26. The firm had revenue of $177.52 million during the quarter, compared to analysts’ expectations of $160.25 million. Trustmark had a return on equity of 8.13% and a net margin of 17.64%. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, equities research analysts forecast that Trustmark will post 1.87 EPS for the current fiscal year.
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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