Brokerages forecast that Trustmark Corp (NASDAQ:TRMK) will post $0.54 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Trustmark’s earnings, with the highest EPS estimate coming in at $0.56 and the lowest estimate coming in at $0.52. Trustmark reported earnings of $0.48 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The business is expected to report its next quarterly earnings report on Tuesday, January 22nd.
On average, analysts expect that Trustmark will report full year earnings of $2.22 per share for the current fiscal year, with EPS estimates ranging from $2.18 to $2.26. For the next year, analysts anticipate that the firm will post earnings of $2.24 per share, with EPS estimates ranging from $2.11 to $2.30. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Trustmark.
Trustmark (NASDAQ:TRMK) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). The firm had revenue of $157.23 million for the quarter, compared to analysts’ expectations of $155.38 million. Trustmark had a return on equity of 9.21% and a net margin of 18.99%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share.
Several research analysts recently issued reports on TRMK shares. BidaskClub raised shares of Trustmark from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Sandler O’Neill reissued a “hold” rating and set a $35.00 price target on shares of Trustmark in a report on Thursday, July 26th. Hovde Group set a $35.00 price target on shares of Trustmark and gave the stock a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research cut shares of Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Stephens set a $35.00 price target on shares of Trustmark and gave the stock a “hold” rating in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $34.50.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Trustmark by 1.4% during the third quarter. BlackRock Inc. now owns 9,411,446 shares of the financial services provider’s stock worth $316,695,000 after buying an additional 131,591 shares during the period. Dimensional Fund Advisors LP grew its position 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 buying an additional 107,397 shares during the period. Northern Trust Corp grew its position in Trustmark by 0.6% during the second quarter. Northern Trust Corp now owns 2,067,330 shares of the financial services provider’s stock worth $67,457,000 after buying an additional 11,836 shares during the period. Wells Fargo & Company MN grew its position in Trustmark by 0.4% during the third quarter. Wells Fargo & Company MN now owns 2,065,986 shares of the financial services provider’s stock worth $69,520,000 after buying an additional 7,610 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Trustmark by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 931,742 shares of the financial services provider’s stock worth $31,353,000 after buying an additional 7,715 shares during the period. Institutional investors own 62.17% of the company’s stock.
NASDAQ TRMK opened at $31.22 on Monday. The stock has a market cap of $2.14 billion, a P/E ratio of 16.26 and a beta of 0.98. Trustmark has a 52-week low of $28.56 and a 52-week high of $36.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.79.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Shareholders of record on Saturday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.95%. Trustmark’s payout ratio is currently 47.92%.
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.
Recommended Story: How is an ETF different from a mutual fund?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trustmark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark and related companies with MarketBeat.com's FREE daily email newsletter.