Jefferies Group Comments on Trustmark Corporation’s Q1 2018 Earnings (TRMK)
Trustmark Corporation (NASDAQ:TRMK) – Analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of Trustmark Corporation in a research report issued on Tuesday. Jefferies Group analyst C. Haire anticipates that the financial services provider will post earnings per share of $0.44 for the quarter. Jefferies Group has a “Hold” rating and a $36.00 price target on the stock. Jefferies Group also issued estimates for Trustmark Corporation’s Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.52 EPS and Q4 2018 earnings at $0.49 EPS.
A number of other analysts have also weighed in on the stock. ValuEngine upgraded shares of Trustmark Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Trustmark Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Saturday, July 29th. Stephens set a $34.00 target price on shares of Trustmark Corporation and gave the company a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub upgraded shares of Trustmark Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.80.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/12/jefferies-group-comments-on-trustmark-corporations-q1-2018-earnings-trmk.html. Trustmark Corporation (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $157.10 million for the quarter, compared to the consensus estimate of $152.57 million. Trustmark Corporation had a return on equity of 8.04% and a net margin of 18.35%. During the same period in the previous year, the business earned $0.40 EPS.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Trustmark Corporation by 18,306.5% during the first quarter. BlackRock Inc. now owns 9,862,184 shares of the financial services provider’s stock worth $313,520,000 after purchasing an additional 9,808,604 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Trustmark Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 5,625,905 shares of the financial services provider’s stock worth $180,929,000 after purchasing an additional 116,857 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Trustmark Corporation by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,033,036 shares of the financial services provider’s stock worth $161,864,000 after purchasing an additional 189,873 shares during the period. State Street Corp lifted its holdings in shares of Trustmark Corporation by 12.7% during the first quarter. State Street Corp now owns 3,447,765 shares of the financial services provider’s stock worth $109,605,000 after purchasing an additional 388,060 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Trustmark Corporation by 4.2% during the second quarter. Wells Fargo & Company MN now owns 2,253,867 shares of the financial services provider’s stock worth $72,484,000 after purchasing an additional 91,676 shares during the period. Institutional investors own 62.36% of the company’s stock.
In other Trustmark Corporation news, insider Charles Scott Woods sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $32.00, for a total value of $32,000.00. Following the sale, the insider now owns 13,344 shares in the company, valued at $427,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.37% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.23 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.73%. Trustmark Corporation’s dividend payout ratio is currently 54.12%.
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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