Trustmark (NASDAQ:TRMK) – SunTrust Banks increased their FY2018 earnings per share (EPS) estimates for Trustmark in a research report issued on Wednesday, May 2nd, according to Zacks Investment Research. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will post earnings of $2.22 per share for the year, up from their previous forecast of $2.17. SunTrust Banks has a “Average” rating and a $33.00 price objective on the stock. SunTrust Banks also issued estimates for Trustmark’s Q4 2018 earnings at $0.56 EPS and FY2019 earnings at $2.33 EPS.
A number of other research analysts have also recently weighed in on TRMK. Hovde Group set a $33.00 price objective on shares of Trustmark and gave the company a “hold” rating in a report on Monday, February 5th. Stephens reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Trustmark in a report on Thursday, January 25th. Zacks Investment Research cut shares of Trustmark from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of Trustmark in a research note on Thursday, January 25th. Finally, BidaskClub raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $34.00.
Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Trustmark had a net margin of 16.75% and a return on equity of 8.67%. The company had revenue of $152.10 million during the quarter, compared to analysts’ expectations of $148.64 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the company. Earnest Partners LLC increased its stake in shares of Trustmark by 2.4% during the first quarter. Earnest Partners LLC now owns 2,330,947 shares of the financial services provider’s stock worth $72,632,000 after purchasing an additional 54,033 shares in the last quarter. LPL Financial LLC increased its stake in shares of Trustmark by 17.0% during the first quarter. LPL Financial LLC now owns 12,378 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,799 shares in the last quarter. Barclays PLC grew its stake in Trustmark by 17.8% during the 1st quarter. Barclays PLC now owns 18,857 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 2,849 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Trustmark by 56.4% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,877 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 5,005 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Trustmark by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 294,216 shares of the financial services provider’s stock valued at $9,168,000 after acquiring an additional 5,118 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.84%. Trustmark’s dividend payout ratio is currently 47.92%.
Trustmark Company Profile
Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company offers checking, savings, and money market accounts; individual retirement accounts; certificates of deposits; financing for commercial and industrial projects, income producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit.
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