Trustmark Corp (TRMK) Expected to Post Quarterly Sales of $152.80 Million

Equities analysts predict that Trustmark Corp (NASDAQ:TRMK) will post sales of $152.80 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Trustmark’s earnings. The highest sales estimate is $154.30 million and the lowest is $151.20 million. Trustmark posted sales of $145.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The firm is scheduled to announce its next earnings results on Tuesday, January 23rd.

According to Zacks, analysts expect that Trustmark will report full year sales of $152.80 million for the current year, with estimates ranging from $600.40 million to $611.80 million. For the next year, analysts anticipate that the company will post sales of $630.53 million per share, with estimates ranging from $623.10 million to $642.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Trustmark.

Trustmark (NASDAQ:TRMK) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Trustmark had a net margin of 18.56% and a return on equity of 8.21%. The firm had revenue of $153.37 million for the quarter, compared to analyst estimates of $154.40 million. During the same quarter last year, the business posted $0.47 earnings per share.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. ValuEngine upgraded shares of Trustmark from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Jefferies Group restated a “hold” rating and issued a $36.00 target price on shares of Trustmark in a research report on Thursday, October 12th. BidaskClub lowered shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $34.00 target price on shares of Trustmark in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Trustmark currently has an average rating of “Hold” and an average target price of $34.40.

Shares of Trustmark (NASDAQ TRMK) opened at $32.93 on Wednesday. Trustmark has a 52-week low of $28.16 and a 52-week high of $36.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.74. The firm has a market cap of $2,255.14, a P/E ratio of 18.82 and a beta of 1.15.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, November 30th. Trustmark’s payout ratio is currently 52.57%.

Several hedge funds have recently added to or reduced their stakes in TRMK. Russell Investments Group Ltd. bought a new position in shares of Trustmark during the second quarter valued at $1,594,000. Great West Life Assurance Co. Can raised its stake in shares of Trustmark by 4.2% during the second quarter. Great West Life Assurance Co. Can now owns 39,815 shares of the financial services provider’s stock valued at $1,280,000 after acquiring an additional 1,608 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Trustmark by 1.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 399,870 shares of the financial services provider’s stock valued at $12,860,000 after acquiring an additional 6,464 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Trustmark by 1.4% during the second quarter. Arizona State Retirement System now owns 28,600 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 400 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Trustmark by 0.5% during the second quarter. Rhumbline Advisers now owns 142,490 shares of the financial services provider’s stock valued at $4,582,000 after acquiring an additional 691 shares during the last quarter. 62.54% of the stock is owned by hedge funds and other institutional investors.

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Trustmark Company Profile

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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Earnings History and Estimates for Trustmark (NASDAQ:TRMK)

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