Earnings Review and Free Research Report: Trustmark’s Diluted EPS Increased 8.5%

Research Desk Line-up: The First Bancshares Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 9, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Trustmark Corp. (NASDAQ: TRMK), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TRMK, following the Company’s posting of its financial results on October 24, 2017, for the third quarter of the fiscal year 2017. The financial services Company’s net interest income increased 6.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Regional – Southeast Banks industry. Pro-TD has currently selected The First Bancshares, Inc. (NASDAQ: FBMS) for due-diligence and potential coverage as the Company reported on October 24, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on The First Bancshares when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TRMK; also brushing on FBMS. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended September 30, 2017, Trustmark’s revenue increased 4.4% to $153.37 million from $146.89 million in Q3 FY16. The adjusted revenue was below analysts’ expectations of $154.4 million.

During Q3 FY17, Trustmark’s total interest income increased 11.7% to $121.09 million from $108.40 million in the same period of last year. For the reported quarter, the Company’s total interest expenses increased 96.1% to $12.20 million from $6.22 million in Q3 FY16. For the reported quarter, the Company’s net interest income increased 6.6% to $108.89 million from $102.18 million in Q3 FY16. For the reported quarter, the Company’s net interest margin decreased 5 basis points to 3.47% from 3.52% in Q3 FY16.

During Q3 FY17, Trustmark’s total non-interest income decreased 0.5% to $44.48 million from $44.72 million in the same period of last year. For the reported quarter, the Company’s salaries and employee benefits expenses increased 2.8% to $58.84 million from $57.25 million in Q3 FY16. For the reported quarter, the Company’s services and fees expenses increased 1.2% to $15.13 million from $14.95 million in Q3 FY16. During Q3 FY17, Trustmark’s total non-interest expenses decreased 5.3% to $103.09 million from $97.91 million in Q3 FY16.

During Q3 FY17, Trustmark’s net income increased 11.6% to $34.58 million on a y-o-y basis from $30.98 million in the comparable period of last year. For the reported quarter, the Company’s diluted earnings per share (EPS) increased 10.9% to $0.51 on a y-o-y basis from $0.46 in Q3 FY16. During Q3 FY17, Trustmark’s adjusted net income increased 9.6% to $34.58 million on a y-o-y basis from $31.54 million in Q3 FY16. For the reported quarter, the Company’s adjusted diluted EPS increased 8.5% to $0.51 on a y-o-y basis from $0.47 in Q3 FY16. The adjusted diluted EPS surpassed analysts’ expectations of $0.48.

Credit Quality

During Q3 FY17, Trustmark’s total non-accrual loans decreased 27.3% to $69.29 million from $54.41 million in the corresponding period of last year.

For the reported quarter, the Company’s allowance for loan losses increased 13.3% to $80.33 million from $70.87 million in the third quarter of 2016.

During Q3 FY17, the Company’s total non-performing assets decreased 1.5% to $117.65 million from $119.40 million in the third quarter of 2016.

Balance Sheet

As on September 30, 2017, Trustmark’s cash and due from banks decreased 8.8% to $350.12 million from $383.95 million as on September 30, 2016. During Q3 FY17, the Company’s short-term borrowings were $1.32 billion compared to $412.79 million in the third quarter of last year.

During Q3 FY17, Trustmark’s efficiency ratio was 65.14% compared to 63.81% in the same period of last year. For the reported quarter, the Company’s book value per share was $23.36 compared to $22.69 in Q3 FY16.

During Q3 FY17, Trustmark’s return on equity ratio was 8.69% versus 8.05% in the comparable period of last year. For the reported quarter, the Company’s return on assets ratio was 0.99% compared to 0.95% in Q3 FY16.

On October 24, 2017, the Company’s Board of Directors declared a quarterly cash dividend of $0.23 per share, payable on December 15, 2017, to shareholders of record as on December 01, 2017.

Stock Performance

Trustmark’s share price finished yesterday’s trading session at $31.86, marginally down 0.72%. A total volume of 181.67 thousand shares have exchanged hands. The Company’s stock price rallied 5.08% in the last three months and 14.32% in the previous twelve months. Shares of the Company have a PE ratio of 18.16 and have a dividend yield of 2.89%. The stock currently has a market cap of $2.17 billion.

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