Equities research analysts expect Trustmark Corp (NASDAQ:TRMK) to report sales of $152.10 million for the current quarter, Zacks reports. Three analysts have made estimates for Trustmark’s earnings. The lowest sales estimate is $149.10 million and the highest is $154.90 million. Trustmark reported sales of $153.06 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The business is expected to issue its next earnings results on Tuesday, January 22nd.
According to Zacks, analysts expect that Trustmark will report full-year sales of $607.60 million for the current year, with estimates ranging from $604.60 million to $610.40 million. For the next fiscal year, analysts forecast that the company will report sales of $618.07 million, with estimates ranging from $608.10 million to $627.30 million. Zacks’ sales averages are an average based on a survey of analysts that follow Trustmark.
Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The company had revenue of $157.23 million for 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 company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS.
TRMK has been the subject of a number of research reports. Stephens set a $35.00 target price on shares of Trustmark and gave the company a “hold” rating in a research note on Wednesday, October 24th. ValuEngine lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Zacks Investment Research downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, SunTrust Banks cut their price target on shares of Trustmark from $36.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Eight investment analysts have rated the stock with a hold rating, Trustmark currently has an average rating of “Hold” and an average price target of $34.50.
Shares of NASDAQ:TRMK traded down $1.61 during trading on Friday, reaching $30.70. 444,602 shares of the company traded hands, compared to its average volume of 433,472. The firm has a market capitalization of $2.19 billion, a P/E ratio of 15.99 and a beta of 0.98. Trustmark has a 1-year low of $28.56 and a 1-year high of $36.32. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.04.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%. Trustmark’s dividend payout ratio is currently 47.92%.
In other news, insider Charles Scott Woods sold 1,500 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $31.65, for a total transaction of $47,475.00. Following the transaction, the insider now owns 12,398 shares in the company, valued at approximately $392,396.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in shares of Trustmark by 83.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,822 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 1,743 shares in the last quarter. Gradient Investments LLC bought a new position in Trustmark in the 2nd quarter worth $169,000. Tower Research Capital LLC TRC raised its holdings in Trustmark by 729.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,524 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 4,858 shares during the period. Crossmark Global Holdings Inc. bought a new position in Trustmark in the 3rd quarter worth $204,000. Finally, OppenheimerFunds Inc. bought a new position in Trustmark in the 2nd quarter worth $208,000. Institutional investors and hedge funds own 71.38% of the company’s stock.
Trustmark Company Profile
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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