Trustmark Co. Expected to Post Fiscal 2021 Earnings of $ 2.51 Per Share (NASDAQ: TRMK)
Trustmark Co. (NASDAQ: TRMK) – Piper Sandler stock researchers increased their earnings per share (EPS) estimate for fiscal 2021 for shares of Trustmark in a note to investors on Wednesday, September 29. Piper Sandler analyst B. Milsaps now expects the financial services provider to earn $ 2.51 per share for the year, up from its previous estimate of $ 2.50.
Separately, Zacks investment research downgraded the confidence rating from a “buy” rating to a “conservation” rating in a report released on Tuesday, August 3.
NASDAQ TRMK open for $ 32.79 Thursday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt ratio of 0.10. The stock’s 50-day moving average is $ 30.76 and its two-hundred-day moving average is $ 32.07. The company has a market cap of $ 2.05 billion, a price-to-earnings ratio of 10.09 and a beta of 1.05. Trustmark has a one-year minimum of $ 21.05 and a one-year maximum of $ 36.31. Trustmark (NASDAQ: TRMK) last released its quarterly earnings data on Monday, July 26. The financial services provider reported earnings per share of $ 0.76 for the quarter, beating analyst consensus estimates of $ 0.67 by $ 0.09. The company posted revenue of $ 178.79 million for the quarter, compared to a consensus estimate of $ 170.78 million. Trustmark had a return on equity of 11.77% and a net margin of 27.89%. The company’s quarterly revenue increased 0.7% year-on-year. During the same period of the previous year, the company achieved earnings per share of $ 0.51.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15. Shareholders of record on Wednesday September 1 received a dividend of $ 0.23. This represents an annualized dividend of $ 0.92 and a dividend yield of 2.81%. The ex-dividend date was Tuesday August 31. Trustmark’s payout rate is currently 35.94%.
Institutional investors and hedge funds have recently changed their positions in the company. Bbva USA bought a new position in Trustmark in the 2nd quarter worth approximately $ 26,000. Panagora Asset Management Inc. increased its position in Trustmark by 58.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,260 shares of the financial services provider valued at $ 70,000 after purchasing 837 additional shares in the last quarter. First Bank & Trust increased its position in Trustmark by 50.9% in the 2nd quarter. First Bank & Trust now owns 4,081 shares of the financial services provider valued at $ 126,000 after purchasing an additional 1,376 shares in the last quarter. Trexquant Investment LP purchased a new equity stake in Trustmark during the 2nd quarter valued at $ 207,000. Finally, Teacher Retirement System of Texas purchased a new stake in Trustmark shares during the 1st quarter valued at $ 228,000. 61.16% of the shares are currently held by institutional investors and hedge funds.
Trustmark Corp. is a bank 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 consumer 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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