Brokers Set Expectations for Trustmark Corp.’s Q1 2018 Earnings (TRMK)
Trustmark Corp. (NASDAQ:TRMK) – Equities research analysts at SunTrust Banks upped their Q1 2018 earnings per share (EPS) estimates for Trustmark Corp. in a note issued to investors on Monday. SunTrust Banks analyst J. Demba now anticipates that the firm will post earnings per share of $0.46 for the quarter, up from their previous forecast of $0.45. SunTrust Banks also issued estimates for Trustmark Corp.’s Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.46 EPS and FY2018 earnings at $1.82 EPS.
TRMK has been the topic of a number of other research reports. Keefe, Bruyette & Woods upgraded Trustmark Corp. from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $23.00 to $25.00 in a research note on Thursday, July 28th. Jefferies Group raised their price objective on Trustmark Corp. from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Finally, Zacks Investment Research upgraded Trustmark Corp. from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, September 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.75.
Shares of Trustmark Corp. (NASDAQ:TRMK) traded up 1.03% during mid-day trading on Tuesday, hitting $32.47. The stock had a trading volume of 60,876 shares. The stock has a market capitalization of $2195.85 billion, a P/E ratio of 20.55 and a beta of 0.92. The stock has a 50 day moving average of $28.15 and a 200-day moving average of $26.38. Trustmark Corp. has a 52 week low of $19.75 and a 52 week high of $32.48.
Trustmark Corp. (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Trustmark Corp. had a return on equity of 7.57% and a net margin of 17.85%. The company had revenue of $146.89 million for the quarter, compared to analyst estimates of $147.15 million. During the same quarter last year, the firm earned $0.42 EPS. Trustmark Corp.’s revenue for the quarter was down .5% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently made changes to their positions in TRMK. LS Investment Advisors LLC raised its position in shares of Trustmark Corp. by 8.4% in the third quarter. LS Investment Advisors LLC now owns 4,338 shares of the financial services provider’s stock valued at $120,000 after buying an additional 335 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Trustmark Corp. by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,426 shares of the financial services provider’s stock valued at $110,000 after buying an additional 82 shares during the period. Oakworth Capital Inc. raised its position in Trustmark Corp. by 138.3% in the third quarter. Oakworth Capital Inc. now owns 5,475 shares of the financial services provider’s stock valued at $150,000 after buying an additional 3,177 shares during the period. Yorktown Management & Research Co Inc acquired a new position in Trustmark Corp. during the third quarter valued at $204,000. Finally, Janney Montgomery Scott LLC acquired a new position in Trustmark Corp. during the second quarter valued at $203,000. 63.99% of the stock is owned by institutional investors and hedge funds.
In related news, insider George C. Gunn III sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $31.94, for a total transaction of $287,460.00. Following the completion of the transaction, the insider now directly owns 17,201 shares of the company’s stock, valued at approximately $549,399.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Tuesday, November 29th. Trustmark Corp.’s dividend payout ratio is presently 57.86%.
Trustmark Corp. Company Profile
Trustmark Corporation (Trustmark) is a bank holding company. Trustmark’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and other subsidiaries, Trustmark operates as a financial services organization providing banking and other financial solutions through approximately 205 offices in Alabama, Florida, Mississippi, Tennessee and Texas.
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