Trustmark Co. (NASDAQ: TRMK) Expected to Report Quarterly Sales of $ 151.07 Million
Wall Street analysts predict that Trustmark Co. (NASDAQ: TRMK) will report sales of $ 151.07 million for the current quarter, according to Zacks. Three analysts put Trustmark’s profit as the highest sales estimate at $ 152.80 million and the lowest estimate at $ 149.60 million. Trustmark recorded sales of $ 180.43 million in the same quarter last year, suggesting a negative year-over-year growth rate of 16.3%. The company is expected to release its next results on Tuesday, January 25.
On average, analysts expect Trustmark to report annual revenue of $ 644.63 million for the current fiscal year, with estimates ranging from $ 640.30 million to $ 652.80 million. dollars. For the next fiscal year, analysts predict the company will post sales of $ 619.47 million, with estimates ranging from $ 610.50 million to $ 632.20 million. Zacks sales averages are an average based on a survey of analysts who cover Trustmark.
Trustmark (NASDAQ: TRMK) last released its results on Monday, October 25. The financial services provider reported EPS of $ 0.49 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.47 of $ 0.02. Trustmark had a net margin of 24.38% and a return on equity of 10.31%. The company posted revenue of $ 155.30 million in the quarter, compared to the consensus estimate of $ 155.20 million. In the same quarter of the previous year, the company achieved earnings per share of $ 0.86. The company’s quarterly revenue was down 15.1% year-on-year.
In addition, Zacks Investment Research reduced Trustmark’s shares from a “buy” rating to a “hold” rating in a research note on Saturday, October 30.
Shares of TRMK opened at $ 32.05 on Monday. The company has a market cap of $ 2.00 billion, a PE ratio of 11.74 and a beta of 0.94. The company has a debt to equity ratio of 0.10, a current ratio of 0.83, and a rapid ratio of 0.81. The fifty-day simple moving average for the stock is $ 32.66. Trustmark has a 12 month low of $ 26.60 and a 12 month high of $ 36.31.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday December 1 received a dividend of $ 0.23. The ex-dividend date was Tuesday, November 30. This represents a dividend of $ 0.92 on an annualized basis and a dividend yield of 2.87%. Trustmark’s payout rate is currently 33.70%.
In addition, director Tracy T. Conerly sold 1,451 Trustmark shares in a transaction that took place on Monday 22 November. The shares were sold at an average price of $ 33.45, for a total trade of $ 48,535.95. The transaction was disclosed in a file with the SEC, accessible through this link. Company insiders own 1.30% of the company’s shares.
Several large investors have recently increased or reduced their stakes in the company. Jefferies Group LLC purchased a new 3rd quarter equity stake in Trustmark valued at $ 221,000. Homrich & Berg increased its holdings in Trustmark shares by 60.2% in the 3rd quarter. Homrich & Berg now owns 28,683 shares of the financial services provider valued at $ 924,000 after purchasing an additional 10,775 shares in the last quarter. Comerica Bank increased its holdings in Trustmark shares by 63.3% in the 3rd quarter. Comerica Bank now owns 56,589 shares of the financial services provider valued at $ 1,916,000 after purchasing an additional 21,935 shares in the last quarter. Bank of New York Mellon Corp increased its holdings of Trustmark shares by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 845,634 shares of the financial services provider valued at $ 27,246,000 after purchasing an additional 14,647 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holding in Trustmark shares by 181.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 75,310 shares of the financial services provider valued at $ 2,426,000 after purchasing 48,514 additional shares during the last quarter. Institutional investors hold 62.07% of the shares of the company.
Trustmark Corp. is a banking holding company. The firm offers banking, wealth management and insurance solutions. It operates through the following segments: general banking, wealth management and insurance. The General Banking segment offers traditional banking products and services, including commercial and personal banking services, such as chequing accounts, savings programs, overdraft facilities, commercial, installment and real estate loans, home equity loans, lines of credit, drive-thru and overnight deposit services and safes.
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