Equities research analysts expect Trustmark Corp (NASDAQ:TRMK) to announce sales of $151.83 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Trustmark’s earnings. The highest sales estimate is $152.80 million and the lowest is $150.40 million. Trustmark reported sales of $153.37 million during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Trustmark will report full year sales of $603.77 million for the current financial year, with estimates ranging from $601.60 million to $605.90 million. For the next fiscal year, analysts forecast that the company will report sales of $622.67 million per share, with estimates ranging from $619.50 million to $626.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Trustmark.
Trustmark (NASDAQ:TRMK) last released its earnings results on Tuesday, July 24th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $155.76 million during the quarter, compared to the consensus estimate of $151.50 million. Trustmark had a return on equity of 9.13% and a net margin of 19.01%. During the same period in the previous year, the company posted $0.47 EPS.
Several brokerages have recently issued reports on TRMK. BidaskClub cut Trustmark from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Zacks Investment Research cut Trustmark from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. Hovde Group set a $35.00 price objective on Trustmark and gave the company a “hold” rating in a research note on Saturday, July 28th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $35.00 price objective on shares of Trustmark in a research note on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Trustmark presently has a consensus rating of “Hold” and an average target price of $34.86.
Shares of Trustmark traded down $0.03, hitting $35.07, during midday trading on Tuesday, according to Marketbeat. The company had a trading volume of 113,189 shares, compared to its average volume of 350,507. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.78 and a current ratio of 0.80. The stock has a market capitalization of $2.37 billion, a PE ratio of 18.27 and a beta of 1.00. Trustmark has a 1 year low of $28.16 and a 1 year high of $35.68.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Stockholders of record on Saturday, September 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, August 30th. Trustmark’s payout ratio is presently 47.92%.
In other news, insider Charles Scott Woods sold 2,000 shares of Trustmark stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $35.41, for a total value of $70,820.00. Following the completion of the transaction, the insider now owns 13,998 shares in the company, valued at approximately $495,669.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TRMK. BlackRock Inc. lifted its stake in Trustmark by 5.7% during the second 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Trustmark by 2.0% during the second 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 during the last quarter. Earnest Partners LLC lifted its stake in Trustmark by 2.4% during the first quarter. Earnest Partners LLC now owns 2,330,947 shares of the financial services provider’s stock worth $72,632,000 after purchasing an additional 54,033 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Trustmark by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 492,416 shares of the financial services provider’s stock worth $16,068,000 after purchasing an additional 32,838 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Trustmark by 175.9% during the first quarter. Millennium Management LLC now owns 50,698 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 32,322 shares during the last quarter. Hedge funds and other institutional investors own 60.97% 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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