Equities Analysts Set Expectations for Trustmark Corp’s Q2 2020 Earnings (NASDAQ:TRMK)

Equities Analysts Set Expectations for Trustmark Corp’s Q2 2020 Earnings (NASDAQ:TRMK)

Trustmark Corp (NASDAQ:TRMK) – Research analysts at SunTrust Banks lowered their Q2 2020 earnings estimates for shares of Trustmark in a report released on Tuesday, December 31st. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will post earnings per share of $0.57 for the quarter, down from their previous forecast of $0.59. SunTrust Banks has a “Hold” rating and a $36.00 price objective on the stock. SunTrust Banks also issued estimates for Trustmark’s Q4 2020 earnings at $0.56 EPS and FY2021 earnings at $2.30 EPS.

A number of other research analysts have also weighed in on the company. ValuEngine upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Monday, November 4th. BidaskClub downgraded Trustmark from a “sell” rating to a “strong sell” rating in a report on Friday, December 27th. Finally, Zacks Investment Research downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and an average target price of $35.25.

Shares of TRMK opened at $34.18 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 0.85. The stock has a 50 day moving average price of $34.65 and a two-hundred day moving average price of $33.99. The firm has a market capitalization of $2.20 billion, a P/E ratio of 15.47 and a beta of 1.09. Trustmark has a 52 week low of $27.52 and a 52 week high of $36.63.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $160.05 million for the quarter, compared to analysts’ expectations of $160.21 million. Trustmark had a net margin of 21.68% and a return on equity of 9.51%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS.

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, November 27th. Trustmark’s payout ratio is currently 41.63%.

Institutional investors have recently bought and sold shares of the business. Strs Ohio lifted its holdings in Trustmark by 45.5% during the third quarter. Strs Ohio now owns 1,600 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 500 shares during the period. Dupont Capital Management Corp increased its position in Trustmark by 10.3% in the third quarter. Dupont Capital Management Corp now owns 3,634 shares of the financial services provider’s stock worth $124,000 after buying an additional 338 shares during the last quarter. Gofen & Glossberg LLC IL purchased a new stake in Trustmark in the third quarter worth $205,000. Cubist Systematic Strategies LLC bought a new stake in shares of Trustmark in the second quarter valued at $201,000. Finally, Aptus Capital Advisors LLC bought a new stake in shares of Trustmark in the second quarter valued at $259,000. 66.70% of the stock is currently owned by hedge funds and other institutional investors.

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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