Jefferies Group Comments on Trustmark Corporation’s FY2017 Earnings (TRMK)
Trustmark Corporation (NASDAQ:TRMK) – Equities research analysts at Jefferies Group raised their FY2017 EPS estimates for shares of Trustmark Corporation in a research note issued to investors on Thursday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings of $1.85 per share for the year, up from their previous estimate of $1.80. Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for Trustmark Corporation’s Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.51 EPS and Q4 2018 earnings at $0.48 EPS.
Trustmark Corporation (NASDAQ:TRMK) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. The company had revenue of $157.10 million for the quarter, compared to analysts’ expectations of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. During the same quarter in the previous year, the company posted $0.40 earnings per share.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Trustmark Corporation from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, June 28th. ValuEngine raised shares of Trustmark Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Trustmark Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Stephens reaffirmed a “hold” rating on shares of Trustmark Corporation in a research note on Wednesday, April 26th. Finally, Keefe, Bruyette & Woods set a $31.00 price objective on shares of Trustmark Corporation and gave the stock a “hold” rating in a research note on Monday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Trustmark Corporation presently has a consensus rating of “Hold” and an average target price of $34.00.
Shares of Trustmark Corporation (NASDAQ:TRMK) opened at 31.76 on Friday. The company has a market cap of $2.15 billion, a PE ratio of 19.14 and a beta of 1.14. Trustmark Corporation has a 12-month low of $25.56 and a 12-month high of $36.79. The stock’s 50 day moving average price is $32.37 and its 200-day moving average price is $32.46.
Several institutional investors have recently made changes to their positions in TRMK. Norges Bank bought a new position in shares of Trustmark Corporation during the fourth quarter worth about $30,268,000. Teachers Advisors LLC raised its position in shares of Trustmark Corporation by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 116,728 shares of the financial services provider’s stock worth $4,161,000 after buying an additional 5,087 shares during the last quarter. Creative Planning raised its position in shares of Trustmark Corporation by 1.7% in the first quarter. Creative Planning now owns 3,464 shares of the financial services provider’s stock worth $110,000 after buying an additional 59 shares during the last quarter. Bank of Montreal Can raised its position in shares of Trustmark Corporation by 0.3% in the first quarter. Bank of Montreal Can now owns 5,759 shares of the financial services provider’s stock worth $182,000 after buying an additional 20 shares during the last quarter. Finally, Alpha Windward LLC raised its position in shares of Trustmark Corporation by 0.9% in the first quarter. Alpha Windward LLC now owns 14,040 shares of the financial services provider’s stock worth $446,000 after buying an additional 120 shares during the last quarter. Institutional investors own 62.88% of the company’s stock.
In other Trustmark Corporation news, insider Duane A. Dewey sold 5,748 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.85, for a total transaction of $177,325.80. Following the sale, the insider now directly owns 27,909 shares of the company’s stock, valued at $860,992.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.90%. Trustmark Corporation’s dividend payout ratio is 54.12%.
About Trustmark Corporation
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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