Trustmark Corp (TRMK) Expected to Post Earnings of $0.54 Per Share

Wall Street brokerages predict that Trustmark Corp (NASDAQ:TRMK) will announce $0.54 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Trustmark’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.56. Trustmark posted earnings per share of $0.48 during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 22nd.

On average, analysts expect that Trustmark will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.23. For the next year, analysts expect that the business will report earnings of $2.23 per share, with EPS estimates ranging from $2.11 to $2.29. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Trustmark.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The business had revenue of $157.23 million during the quarter, compared to the consensus estimate of $155.38 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. Trustmark’s quarterly revenue was up 2.5% compared to the same quarter last year.

Several research analysts have recently commented on the company. BidaskClub lowered Trustmark from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Zacks Investment Research lowered Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. SunTrust Banks reduced their price target on Trustmark from $36.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, October 29th. ValuEngine upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Stephens set a $35.00 price target on Trustmark and gave the stock a “hold” rating in a report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating, Trustmark currently has a consensus rating of “Hold” and an average target price of $34.50.

In related news, insider Charles Scott Woods sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $31.65, for a total transaction of $47,475.00. Following the completion of the sale, the insider now directly owns 12,398 shares of the company’s stock, valued at approximately $392,396.70. The sale was disclosed in a 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.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Trustmark by 5.7% in the second quarter. BlackRock Inc. now owns 9,279,855 shares of the financial services provider’s stock valued at $302,802,000 after purchasing an additional 502,534 shares during the period. Millennium Management LLC grew its holdings in Trustmark by 891.5% during the second quarter. Millennium Management LLC now owns 502,650 shares of the financial services provider’s stock worth $16,401,000 after acquiring an additional 451,952 shares during the period. Martingale Asset Management L P acquired a new position in Trustmark during the second quarter worth $477,000. Bank of Montreal Can grew its holdings in Trustmark by 953.3% during the third quarter. Bank of Montreal Can now owns 54,215 shares of the financial services provider’s stock worth $1,825,000 after acquiring an additional 49,068 shares during the period. Finally, WBI Investments Inc. acquired a new position in Trustmark during the third quarter worth $1,668,000. 71.38% of the stock is owned by hedge funds and other institutional investors.

NASDAQ TRMK traded down $1.61 during trading hours on Wednesday, hitting $30.70. The company’s stock had a trading volume of 444,602 shares, compared to its average volume of 433,472. Trustmark has a 12 month low of $28.56 and a 12 month high of $36.32. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 29th. Trustmark’s payout ratio is 47.92%.

About Trustmark

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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