Trustmark Corporation (TRMK) Expected to Announce Quarterly Sales of $155.07 Million
Equities analysts forecast that Trustmark Corporation (NASDAQ:TRMK) will post sales of $155.07 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Trustmark Corporation’s earnings. The lowest sales estimate is $154.60 million and the highest is $155.70 million. Trustmark Corporation posted sales of $146.89 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Trustmark Corporation will report full year sales of $155.07 million for the current fiscal year, with estimates ranging from $602.90 million to $613.70 million. For the next fiscal year, analysts expect that the firm will post sales of $635.50 million per share, with estimates ranging from $630.20 million to $641.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Trustmark Corporation.
Trustmark Corporation (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. The business had revenue of $157.10 million during the quarter, compared to analyst estimates of $152.57 million. During the same period in the previous year, the business posted $0.40 EPS.
A number of brokerages have recently issued reports on TRMK. ValuEngine upgraded shares of Trustmark Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Trustmark Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Hovde Group cut shares of Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 price objective for the company. in a research note on Friday, June 23rd. Finally, BidaskClub cut shares of Trustmark Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Trustmark Corporation currently has an average rating of “Hold” and a consensus price target of $33.60.
In other news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the sale, the insider now owns 13,344 shares of the company’s stock, valued at approximately $427,008. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.37% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of TRMK. BlackRock Inc. grew its holdings in shares of Trustmark Corporation by 18,306.5% in the 1st quarter. BlackRock Inc. now owns 9,862,184 shares of the financial services provider’s stock worth $313,520,000 after purchasing an additional 9,808,604 shares during the last quarter. State Street Corp grew its holdings in shares of Trustmark Corporation by 12.7% in the 1st quarter. State Street Corp now owns 3,447,765 shares of the financial services provider’s stock worth $109,605,000 after purchasing an additional 388,060 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Trustmark Corporation by 16.9% in the 2nd quarter. Earnest Partners LLC now owns 2,026,880 shares of the financial services provider’s stock worth $65,184,000 after purchasing an additional 292,290 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Trustmark Corporation by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,509,048 shares of the financial services provider’s stock worth $175,133,000 after purchasing an additional 286,219 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Trustmark Corporation by 31.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,190,151 shares of the financial services provider’s stock worth $37,835,000 after purchasing an additional 285,369 shares during the last quarter. 62.36% of the stock is currently owned by institutional investors and hedge funds.
Trustmark Corporation (NASDAQ:TRMK) opened at 31.43 on Friday. Trustmark Corporation has a 12-month low of $26.81 and a 12-month high of $36.79. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 18.51 and a beta of 1.15. The stock has a 50 day moving average of $30.20 and a 200 day moving average of $31.58.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Wednesday, August 30th. Trustmark Corporation’s payout ratio is 54.12%.
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Trustmark Corporation Company Profile
Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.
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