Trustmark Co. (NASDAQ:TRMK) Expected to Announce Quarterly Sales of $158.30 Million

Posted by on Jun 9th, 2022

Equities analysts expect Trustmark Co. (NASDAQ:TRMK – Get Rating) to post sales of $158.30 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Trustmark’s earnings, with estimates ranging from $156.80 million to $160.00 million. Trustmark posted sales of $178.79 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.5%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Trustmark will report full year sales of $643.33 million for the current year, with estimates ranging from $636.70 million to $656.40 million. For the next financial year, analysts anticipate that the company will report sales of $700.00 million, with estimates ranging from $678.80 million to $716.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Trustmark.

Trustmark (NASDAQ:TRMK – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. The firm had revenue of $156.46 million during the quarter, compared to the consensus estimate of $152.45 million. Trustmark had a return on equity of 7.74% and a net margin of 18.77%. During the same quarter in the prior year, the business posted $0.82 earnings per share.

A number of research analysts have commented on the company. StockNews.com assumed coverage on Trustmark in a report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial reduced their target price on Trustmark from $35.00 to $30.00 in a report on Monday, May 2nd. Finally, Zacks Investment Research raised Trustmark from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Tuesday, April 5th.

A number of hedge funds have recently bought and sold shares of the stock. Credit Suisse AG raised its holdings in Trustmark by 1.6% during the 3rd quarter. Credit Suisse AG now owns 58,028 shares of the financial services provider’s stock worth $1,869,000 after buying an additional 890 shares during the period. Jump Financial LLC bought a new stake in Trustmark during the third quarter worth approximately $201,000. Natixis bought a new stake in Trustmark during the third quarter worth approximately $404,000. Profund Advisors LLC bought a new stake in Trustmark during the third quarter worth approximately $215,000. Finally, Morgan Stanley grew its stake in shares of Trustmark by 202.6% in the third quarter. Morgan Stanley now owns 330,072 shares of the financial services provider’s stock worth $10,634,000 after acquiring an additional 221,001 shares during the last quarter. 73.72% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TRMK opened at $29.44 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $28.95 and its two-hundred day moving average is $31.16. Trustmark has a 52 week low of $26.67 and a 52 week high of $35.30. The company has a market cap of $1.81 billion, a PE ratio of 14.79 and a beta of 0.90.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, May 31st. Trustmark’s payout ratio is currently 46.23%.

Trustmark Company Profile (Get Rating)

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.

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