Brokerages predict that Trustmark Corp (NASDAQ:TRMK) will post earnings per share (EPS) of $0.54 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Trustmark’s earnings. The lowest EPS estimate is $0.52 and the highest is $0.56. Trustmark reported earnings per share of $0.48 during the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The company is expected to report its next quarterly earnings report on Tuesday, January 22nd.
According to Zacks, analysts expect that Trustmark will report full-year earnings of $2.22 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.26. For the next year, analysts anticipate that the firm will report earnings of $2.24 per share, with EPS estimates ranging from $2.11 to $2.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Trustmark.
Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The firm had revenue of $157.23 million during the quarter, compared to analyst estimates of $155.38 million. Trustmark had a net margin of 18.99% and a return on equity of 9.21%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share.
A number of brokerages recently weighed in on TRMK. BidaskClub upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. SunTrust Banks lowered their target price on Trustmark from $36.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, October 29th. Stephens set a $35.00 target price on Trustmark and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut Trustmark from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.50.
Shares of NASDAQ:TRMK traded up $0.30 during mid-day trading on Monday, reaching $31.70. The stock had a trading volume of 395,424 shares, compared to its average volume of 318,171. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.51 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.79. Trustmark has a twelve month low of $28.56 and a twelve month high of $36.32.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.90%. Trustmark’s payout ratio is 47.92%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Trustmark by 5.7% during the 2nd quarter. BlackRock Inc. now owns 9,279,855 shares of the financial services provider’s stock worth $302,802,000 after purchasing an additional 502,534 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Trustmark by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,412,871 shares of the financial services provider’s stock worth $176,623,000 after purchasing an additional 107,397 shares in the last quarter. Northern Trust Corp increased its stake in Trustmark by 0.6% during the 2nd quarter. Northern Trust Corp now owns 2,067,330 shares of the financial services provider’s stock worth $67,457,000 after purchasing an additional 11,836 shares in the last quarter. Wells Fargo & Company MN increased its stake in Trustmark by 0.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,065,986 shares of the financial services provider’s stock worth $69,520,000 after purchasing an additional 7,610 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Trustmark by 891.5% during the 2nd quarter. Millennium Management LLC now owns 502,650 shares of the financial services provider’s stock worth $16,401,000 after acquiring an additional 451,952 shares in the last quarter. 62.17% of the stock is owned by institutional investors and hedge funds.
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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