Jefferies Group Analysts Boost Earnings Estimates for Trustmark Corp (TRMK)

Trustmark Corp (NASDAQ:TRMK) – Analysts at Jefferies Group increased their Q1 2017 earnings per share estimates for shares of Trustmark Corp in a report released on Tuesday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.40 per share for the quarter, up from their previous estimate of $0.38.

TRMK has been the topic of several other reports. Zacks Investment Research lowered Trustmark Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 11th. Keefe, Bruyette & Woods set a $31.00 price target on Trustmark Corp and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, Hovde Group raised Trustmark Corp from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $30.80.

Earnings History and Estimates for Trustmark Corp (NASDAQ:TRMK)

ILLEGAL ACTIVITY NOTICE: “Jefferies Group Analysts Boost Earnings Estimates for Trustmark Corp (TRMK)” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://www.chaffeybreeze.com/2017/04/20/jefferies-group-comments-on-trustmark-corps-q1-2017-earnings-trmk-updated.html.

Trustmark Corp (NASDAQ:TRMK) traded up 1.476% during mid-day trading on Thursday, reaching $31.965. 167,851 shares of the company’s stock were exchanged. The company has a market capitalization of $2.16 billion, a P/E ratio of 19.991 and a beta of 1.07. The company’s 50 day moving average price is $31.72 and its 200-day moving average price is $32.19. Trustmark Corp has a 52 week low of $22.95 and a 52 week high of $36.79.

Trustmark Corp (NASDAQ:TRMK) last issued its earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Trustmark Corp had a net margin of 17.94% and a return on equity of 7.54%. The firm had revenue of $145.30 million for the quarter, compared to analysts’ expectations of $146.10 million. During the same quarter last year, the company earned $0.41 earnings per share.

A number of large investors have recently modified their holdings of TRMK. Wells Fargo & Company MN raised its stake in shares of Trustmark Corp by 263.9% in the third quarter. Wells Fargo & Company MN now owns 1,961,544 shares of the financial services provider’s stock valued at $54,061,000 after buying an additional 1,422,443 shares in the last quarter. Norges Bank bought a new stake in shares of Trustmark Corp during the fourth quarter valued at $30,268,000. State Street Corp raised its stake in shares of Trustmark Corp by 18.9% in the fourth quarter. State Street Corp now owns 3,059,705 shares of the financial services provider’s stock valued at $109,080,000 after buying an additional 485,964 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Trustmark Corp by 4.9% in the third quarter. BlackRock Fund Advisors now owns 7,154,870 shares of the financial services provider’s stock valued at $197,188,000 after buying an additional 332,853 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Trustmark Corp by 20.0% in the third quarter. JPMorgan Chase & Co. now owns 944,852 shares of the financial services provider’s stock valued at $26,040,000 after buying an additional 157,630 shares in the last quarter. 63.48% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark Corp

Trustmark Corporation is a bank holding company. The Company’s principal subsidiary is Trustmark National Bank (TNB). Through TNB and its subsidiaries, the Company operates as a financial services company providing banking and other financial solutions. It operates through three segments: General Banking, Wealth Management and Insurance.

5 Day Chart for NASDAQ:TRMK

Get a free copy of the Zacks research report on Trustmark Corp (TRMK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Trustmark Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trustmark Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply