Trustmark Corporation (NASDAQ:TRMK) Expected to Announce Quarterly Sales of $152.20 Million
Equities analysts expect Trustmark Corporation (NASDAQ:TRMK) to announce sales of $152.20 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Trustmark Corporation’s earnings. The highest sales estimate is $153.30 million and the lowest is $151.20 million. Trustmark Corporation reported sales of $145.14 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, July 25th.
According to Zacks, analysts expect that Trustmark Corporation will report full year sales of $152.20 million for the current fiscal year, with estimates ranging from $608.70 million to $614.10 million. For the next fiscal year, analysts anticipate that the company will report sales of $638.23 million per share, with estimates ranging from $631.80 million to $642.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Trustmark Corporation.
Trustmark Corporation (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $148.46 million during the quarter, compared to analyst estimates of $144.60 million. Trustmark Corporation had a return on equity of 7.78% and a net margin of 18.41%. During the same quarter in the prior year, the company posted $0.40 earnings per share.
Several research firms recently issued reports on TRMK. Zacks Investment Research cut Trustmark Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded Trustmark Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Hovde Group cut Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 price objective on the stock. in a report on Friday, June 23rd. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price objective on shares of Trustmark Corporation in a report on Friday, June 9th. Finally, ValuEngine upgraded Trustmark Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Trustmark Corporation currently has an average rating of “Hold” and a consensus price target of $33.75.
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Trustmark Corporation (NASDAQ:TRMK) traded up 0.68% during trading on Friday, hitting $32.46. The stock had a trading volume of 127,976 shares. Trustmark Corporation has a 52-week low of $23.67 and a 52-week high of $36.79. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 19.57 and a beta of 1.14. The firm’s 50-day moving average price is $31.86 and its 200-day moving average price is $32.92.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Tuesday, May 30th. Trustmark Corporation’s dividend payout ratio is currently 55.09%.
In other news, insider Duane A. Dewey sold 5,748 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.85, for a total transaction of $177,325.80. Following the transaction, the insider now directly owns 27,909 shares in the company, valued at approximately $860,992.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Harry M. Walker sold 7,381 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $33.53, for a total value of $247,484.93. The disclosure for this sale can be found here. Insiders own 1.37% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Trustmark Corporation by 18,306.5% in the first quarter. BlackRock Inc. now owns 9,862,184 shares of the financial services provider’s stock valued at $313,520,000 after buying an additional 9,808,604 shares in the last quarter. Norges Bank bought a new position in shares of Trustmark Corporation during the fourth quarter valued at $30,268,000. State Street Corp boosted its position in shares of Trustmark Corporation by 12.7% in the first quarter. State Street Corp now owns 3,447,765 shares of the financial services provider’s stock valued at $109,605,000 after buying an additional 388,060 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Trustmark Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,509,048 shares of the financial services provider’s stock valued at $175,133,000 after buying an additional 286,219 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Trustmark Corporation by 31.5% in the first quarter. Bank of New York Mellon Corp now owns 1,190,151 shares of the financial services provider’s stock valued at $37,835,000 after buying an additional 285,369 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.
About Trustmark Corporation
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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