Jefferies Group Brokers Lift Earnings Estimates for Trustmark Corp (TRMK)

Trustmark Corp (NASDAQ:TRMK) – Analysts at Jefferies Group upped their FY2018 EPS estimates for Trustmark in a research note issued on Monday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings of $2.13 per share for the year, up from their previous estimate of $1.87. Jefferies Group has a “Hold” rating and a $36.00 price target on the stock. Jefferies Group also issued estimates for Trustmark’s FY2019 earnings at $2.24 EPS.

Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price objective on shares of Trustmark in a report on Thursday, October 26th. SunTrust Banks restated a “hold” rating and set a $38.00 price objective on shares of Trustmark in a report on Tuesday. Zacks Investment Research cut Trustmark from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, ValuEngine cut Trustmark from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of Trustmark (NASDAQ:TRMK) traded up $0.60 during trading hours on Wednesday, hitting $33.65. The stock had a trading volume of 222,100 shares, compared to its average volume of 305,313. Trustmark has a 12 month low of $28.16 and a 12 month high of $35.32. The company has a market capitalization of $2,280.00, a PE ratio of 19.23 and a beta of 1.15. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.04.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, November 30th. Trustmark’s dividend payout ratio is presently 52.57%.

Several large investors have recently modified their holdings of TRMK. Schwab Charles Investment Management Inc. raised its position in shares of Trustmark by 1.6% in 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 buying an additional 6,464 shares in the last quarter. Legal & General Group Plc raised its position in shares of Trustmark by 9.0% in the second quarter. Legal & General Group Plc now owns 82,402 shares of the financial services provider’s stock valued at $2,651,000 after buying an additional 6,826 shares in the last quarter. Comerica Bank raised its position in shares of Trustmark by 0.8% in the second quarter. Comerica Bank now owns 52,507 shares of the financial services provider’s stock valued at $1,686,000 after buying an additional 418 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Trustmark by 8.1% in the second quarter. Victory Capital Management Inc. now owns 22,692 shares of the financial services provider’s stock valued at $730,000 after buying an additional 1,695 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Trustmark by 9.9% in the second quarter. Prudential Financial Inc. now owns 49,495 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 4,460 shares in the last quarter. Institutional investors own 62.54% of the company’s stock.

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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.

Earnings History and Estimates for Trustmark (NASDAQ:TRMK)

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