Jefferies Group Comments on Trustmark Corporation’s FY2017 Earnings (TRMK)
Trustmark Corporation (NASDAQ:TRMK) – Jefferies Group cut their FY2017 earnings per share (EPS) estimates for shares of Trustmark Corporation in a report issued on Monday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings per share of $1.84 for the year, down from their previous estimate of $1.85. Jefferies Group also issued estimates for Trustmark Corporation’s Q4 2017 earnings at $0.43 EPS.
Several other equities research analysts have also recently commented on the company. Hovde Group cut Trustmark Corporation from an “outperform” rating to a “market perform” rating and set a $34.00 target price on the stock. in a research note on Friday, June 23rd. BidaskClub upgraded Trustmark Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded Trustmark Corporation from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, September 20th. ValuEngine upgraded Trustmark Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Stephens set a $35.00 target price on Trustmark Corporation and gave the company a “hold” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Trustmark Corporation currently has an average rating of “Hold” and an average target price of $33.60.
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Trustmark Corporation (NASDAQ TRMK) opened at 33.84 on Wednesday. Trustmark Corporation has a 12 month low of $26.81 and a 12 month high of $36.79. The company’s 50-day moving average is $31.00 and its 200 day moving average is $31.66. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 19.93 and a beta of 1.17.
Trustmark Corporation (NASDAQ:TRMK) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03. The firm had revenue of $157.10 million for the quarter, compared to analyst estimates of $152.57 million. Trustmark Corporation had a net margin of 18.35% and a return on equity of 8.04%. During the same quarter last year, the firm earned $0.40 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.72%. The ex-dividend date was Wednesday, August 30th. Trustmark Corporation’s payout ratio is 54.12%.
In other news, insider Charles Scott Woods sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00. Following the sale, the insider now owns 13,344 shares in the company, valued at approximately $427,008. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.37% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Trustmark Corporation by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,333 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 296 shares in the last quarter. Creative Planning raised its stake in shares of Trustmark Corporation by 7.0% during the 2nd quarter. Creative Planning now owns 3,705 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 241 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Trustmark Corporation by 37.6% during the 2nd quarter. Flinton Capital Management LLC now owns 4,448 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,216 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Trustmark Corporation by 13.8% during the 2nd quarter. Integrated Investment Consultants LLC now owns 4,925 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 598 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Trustmark Corporation by 21.1% during the 2nd quarter. LS Investment Advisors LLC now owns 5,411 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 941 shares in the last quarter. Institutional investors own 62.36% 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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