Intrinsic value of Trustmark - TRMK

Previous Close

$35.27

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$35.27

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as TRMK.

We calculate the intrinsic value of TRMK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  625
  667
  711
  756
  804
  853
  904
  957
  1,013
  1,071
  1,132
  1,195
  1,261
  1,331
  1,403
  1,479
  1,558
  1,641
  1,727
  1,818
  1,913
  2,013
  2,117
  2,227
  2,341
  2,462
  2,588
  2,720
  2,859
  3,004
Variable operating expenses, $m
  379
  404
  431
  458
  487
  517
  548
  580
  614
  649
  686
  724
  764
  806
  850
  896
  944
  994
  1,047
  1,102
  1,159
  1,220
  1,283
  1,349
  1,419
  1,492
  1,568
  1,648
  1,732
  1,821
Fixed operating expenses, $m
  80
  81
  83
  85
  87
  89
  91
  93
  95
  97
  99
  101
  104
  106
  108
  110
  113
  115
  118
  121
  123
  126
  129
  131
  134
  137
  140
  143
  147
  150
Total operating expenses, $m
  459
  485
  514
  543
  574
  606
  639
  673
  709
  746
  785
  825
  868
  912
  958
  1,006
  1,057
  1,109
  1,165
  1,223
  1,282
  1,346
  1,412
  1,480
  1,553
  1,629
  1,708
  1,791
  1,879
  1,971
Operating income, $m
  167
  181
  197
  213
  230
  247
  265
  284
  304
  325
  347
  370
  394
  418
  445
  472
  501
  531
  563
  596
  631
  667
  706
  746
  788
  833
  879
  928
  980
  1,034
EBITDA, $m
  1,619
  1,731
  1,848
  1,970
  2,096
  2,228
  2,365
  2,508
  2,657
  2,813
  2,976
  3,146
  3,323
  3,509
  3,703
  3,906
  4,119
  4,341
  4,574
  4,818
  5,074
  5,342
  5,623
  5,917
  6,226
  6,550
  6,889
  7,245
  7,619
  8,011
Interest expense (income), $m
  24
  662
  642
  679
  717
  757
  799
  843
  888
  935
  984
  1,036
  1,089
  1,145
  1,204
  1,265
  1,329
  1,396
  1,466
  1,539
  1,615
  1,696
  1,780
  1,868
  1,960
  2,057
  2,158
  2,264
  2,376
  2,493
  2,615
Earnings before tax, $m
  -496
  -460
  -482
  -504
  -528
  -552
  -577
  -604
  -631
  -659
  -689
  -720
  -752
  -785
  -820
  -857
  -895
  -935
  -976
  -1,020
  -1,065
  -1,112
  -1,162
  -1,214
  -1,269
  -1,325
  -1,385
  -1,447
  -1,513
  -1,581
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -496
  -460
  -482
  -504
  -528
  -552
  -577
  -604
  -631
  -659
  -689
  -720
  -752
  -785
  -820
  -857
  -895
  -935
  -976
  -1,020
  -1,065
  -1,112
  -1,162
  -1,214
  -1,269
  -1,325
  -1,385
  -1,447
  -1,513
  -1,581

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  11,370
  12,133
  12,927
  13,752
  14,611
  15,505
  16,437
  17,409
  18,421
  19,478
  20,581
  21,733
  22,936
  24,194
  25,508
  26,884
  28,322
  29,828
  31,405
  33,056
  34,785
  36,596
  38,495
  40,484
  42,570
  44,756
  47,049
  49,454
  51,975
  54,621
Adjusted assets (=assets-cash), $m
  11,370
  12,133
  12,927
  13,752
  14,611
  15,505
  16,437
  17,409
  18,421
  19,478
  20,581
  21,733
  22,936
  24,194
  25,508
  26,884
  28,322
  29,828
  31,405
  33,056
  34,785
  36,596
  38,495
  40,484
  42,570
  44,756
  47,049
  49,454
  51,975
  54,621
Revenue / Adjusted assets
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
  0.055
Average production assets, $m
  14,524
  15,499
  16,512
  17,566
  18,664
  19,806
  20,997
  22,237
  23,531
  24,881
  26,290
  27,761
  29,298
  30,904
  32,584
  34,340
  36,178
  38,102
  40,116
  42,224
  44,433
  46,747
  49,172
  51,714
  54,378
  57,171
  60,099
  63,171
  66,392
  69,771
Working capital, $m
  -12,567
  -13,410
  -14,287
  -15,199
  -16,148
  -17,137
  -18,167
  -19,240
  -20,360
  -21,528
  -22,747
  -24,020
  -25,349
  -26,739
  -28,193
  -29,712
  -31,303
  -32,967
  -34,709
  -36,534
  -38,445
  -40,447
  -42,545
  -44,744
  -47,049
  -49,466
  -52,000
  -54,657
  -57,444
  -60,368
Total debt, $m
  11,883
  12,569
  13,283
  14,026
  14,799
  15,604
  16,443
  17,317
  18,229
  19,180
  20,172
  21,209
  22,292
  23,424
  24,607
  25,845
  27,140
  28,495
  29,914
  31,400
  32,956
  34,586
  36,295
  38,085
  39,962
  41,930
  43,994
  46,158
  48,427
  50,808
Total liabilities, $m
  10,233
  10,920
  11,634
  12,377
  13,150
  13,955
  14,794
  15,668
  16,579
  17,530
  18,523
  19,559
  20,642
  21,774
  22,958
  24,195
  25,490
  26,846
  28,264
  29,750
  31,306
  32,937
  34,645
  36,436
  38,313
  40,281
  42,344
  44,508
  46,778
  49,159
Total equity, $m
  1,137
  1,213
  1,293
  1,375
  1,461
  1,551
  1,644
  1,741
  1,842
  1,948
  2,058
  2,173
  2,294
  2,419
  2,551
  2,688
  2,832
  2,983
  3,140
  3,306
  3,478
  3,660
  3,849
  4,048
  4,257
  4,476
  4,705
  4,945
  5,198
  5,462
Total liabilities and equity, $m
  11,370
  12,133
  12,927
  13,752
  14,611
  15,506
  16,438
  17,409
  18,421
  19,478
  20,581
  21,732
  22,936
  24,193
  25,509
  26,883
  28,322
  29,829
  31,404
  33,056
  34,784
  36,597
  38,494
  40,484
  42,570
  44,757
  47,049
  49,453
  51,976
  54,621
Debt-to-equity ratio
  10.450
  10.360
  10.280
  10.200
  10.130
  10.060
  10.000
  9.950
  9.900
  9.850
  9.800
  9.760
  9.720
  9.680
  9.650
  9.610
  9.580
  9.550
  9.530
  9.500
  9.470
  9.450
  9.430
  9.410
  9.390
  9.370
  9.350
  9.330
  9.320
  9.300
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -496
  -460
  -482
  -504
  -528
  -552
  -577
  -604
  -631
  -659
  -689
  -720
  -752
  -785
  -820
  -857
  -895
  -935
  -976
  -1,020
  -1,065
  -1,112
  -1,162
  -1,214
  -1,269
  -1,325
  -1,385
  -1,447
  -1,513
  -1,581
Depreciation, amort., depletion, $m
  1,452
  1,550
  1,651
  1,757
  1,866
  1,981
  2,100
  2,224
  2,353
  2,488
  2,629
  2,776
  2,930
  3,090
  3,258
  3,434
  3,618
  3,810
  4,012
  4,222
  4,443
  4,675
  4,917
  5,171
  5,438
  5,717
  6,010
  6,317
  6,639
  6,977
Funds from operations, $m
  957
  1,090
  1,169
  1,252
  1,339
  1,429
  1,522
  1,620
  1,722
  1,829
  1,940
  2,056
  2,178
  2,305
  2,438
  2,577
  2,723
  2,876
  3,035
  3,203
  3,378
  3,562
  3,755
  3,957
  4,169
  4,392
  4,625
  4,870
  5,126
  5,396
Change in working capital, $m
  -811
  -843
  -877
  -912
  -949
  -989
  -1,030
  -1,073
  -1,119
  -1,168
  -1,219
  -1,273
  -1,330
  -1,390
  -1,453
  -1,520
  -1,590
  -1,664
  -1,742
  -1,825
  -1,911
  -2,002
  -2,098
  -2,199
  -2,305
  -2,417
  -2,534
  -2,657
  -2,787
  -2,924
Cash from operations, $m
  1,768
  1,933
  2,046
  2,164
  2,288
  2,417
  2,552
  2,694
  2,842
  2,997
  3,159
  3,329
  3,508
  3,695
  3,891
  4,097
  4,313
  4,540
  4,778
  5,027
  5,289
  5,564
  5,853
  6,156
  6,474
  6,808
  7,159
  7,527
  7,914
  8,319
Maintenance CAPEX, $m
  -1,358
  -1,452
  -1,550
  -1,651
  -1,757
  -1,866
  -1,981
  -2,100
  -2,224
  -2,353
  -2,488
  -2,629
  -2,776
  -2,930
  -3,090
  -3,258
  -3,434
  -3,618
  -3,810
  -4,012
  -4,222
  -4,443
  -4,675
  -4,917
  -5,171
  -5,438
  -5,717
  -6,010
  -6,317
  -6,639
New CAPEX, $m
  -949
  -975
  -1,013
  -1,054
  -1,097
  -1,143
  -1,190
  -1,241
  -1,294
  -1,350
  -1,409
  -1,471
  -1,537
  -1,606
  -1,680
  -1,757
  -1,838
  -1,924
  -2,014
  -2,109
  -2,209
  -2,314
  -2,425
  -2,541
  -2,664
  -2,793
  -2,929
  -3,071
  -3,221
  -3,379
Cash from investing activities, $m
  -2,307
  -2,427
  -2,563
  -2,705
  -2,854
  -3,009
  -3,171
  -3,341
  -3,518
  -3,703
  -3,897
  -4,100
  -4,313
  -4,536
  -4,770
  -5,015
  -5,272
  -5,542
  -5,824
  -6,121
  -6,431
  -6,757
  -7,100
  -7,458
  -7,835
  -8,231
  -8,646
  -9,081
  -9,538
  -10,018
Free cash flow, $m
  -539
  -494
  -517
  -541
  -566
  -592
  -619
  -647
  -676
  -706
  -738
  -771
  -805
  -841
  -879
  -918
  -959
  -1,001
  -1,046
  -1,093
  -1,142
  -1,193
  -1,246
  -1,302
  -1,361
  -1,423
  -1,487
  -1,554
  -1,625
  -1,699
Issuance/(repayment) of debt, $m
  -384
  687
  714
  743
  773
  805
  839
  874
  912
  951
  993
  1,037
  1,083
  1,132
  1,183
  1,238
  1,295
  1,355
  1,419
  1,486
  1,556
  1,630
  1,708
  1,791
  1,877
  1,968
  2,063
  2,164
  2,270
  2,381
Issuance/(repurchase) of shares, $m
  1,672
  537
  561
  587
  614
  641
  670
  701
  732
  765
  799
  835
  872
  911
  952
  994
  1,039
  1,085
  1,134
  1,185
  1,238
  1,294
  1,352
  1,413
  1,477
  1,544
  1,614
  1,688
  1,765
  1,846
Cash from financing (excl. dividends), $m  
  1,288
  1,224
  1,275
  1,330
  1,387
  1,446
  1,509
  1,575
  1,644
  1,716
  1,792
  1,872
  1,955
  2,043
  2,135
  2,232
  2,334
  2,440
  2,553
  2,671
  2,794
  2,924
  3,060
  3,204
  3,354
  3,512
  3,677
  3,852
  4,035
  4,227
Total cash flow (excl. dividends), $m
  750
  729
  758
  789
  821
  855
  890
  928
  968
  1,010
  1,054
  1,101
  1,150
  1,202
  1,256
  1,314
  1,375
  1,439
  1,506
  1,578
  1,652
  1,731
  1,814
  1,901
  1,993
  2,089
  2,191
  2,298
  2,410
  2,528
Retained Cash Flow (-), $m
  -1,672
  -537
  -561
  -587
  -614
  -641
  -670
  -701
  -732
  -765
  -799
  -835
  -872
  -911
  -952
  -994
  -1,039
  -1,085
  -1,134
  -1,185
  -1,238
  -1,294
  -1,352
  -1,413
  -1,477
  -1,544
  -1,614
  -1,688
  -1,765
  -1,846
Prev. year cash balance distribution, $m
  40
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -883
  193
  197
  202
  207
  213
  220
  227
  236
  245
  255
  266
  278
  291
  305
  320
  336
  354
  373
  393
  414
  437
  462
  488
  516
  545
  577
  610
  645
  682
Discount rate, %
  15.10
  15.86
  16.65
  17.48
  18.35
  19.27
  20.24
  21.25
  22.31
  23.43
  24.60
  25.83
  27.12
  28.47
  29.90
  31.39
  32.96
  34.61
  36.34
  38.16
  40.06
  42.07
  44.17
  46.38
  48.70
  51.13
  53.69
  56.38
  59.19
  62.15
PV of cash for distribution, $m
  -767
  143
  124
  106
  89
  74
  61
  49
  38
  30
  23
  17
  12
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  34.0
  23.2
  16.0
  11.0
  7.7
  5.4
  3.8
  2.6
  1.9
  1.3
  0.9
  0.7
  0.5
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

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. The General Banking Division is responsible for all traditional banking products and services, including loans and deposits. The Wealth Management Division provides customized solutions for customers by integrating financial services with traditional banking products and services, such as money management, full-service brokerage, financial planning, personal and institutional trust and retirement services. Through Fisher Brown Bottrell Insurance, Inc. (FBBI), a subsidiary of TNB, the Insurance Division provides a range of retail insurance products, including commercial risk management products, bonding, group benefits and personal lines coverage.

FINANCIAL RATIOS  of  Trustmark (TRMK)

Valuation Ratios
P/E Ratio 22.1
Price to Sales 0
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 16.2
Price to Free Cash Flow 18.5
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18.2%
Cap. Spend. - 3 Yr. Gr. Rate 2.4%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 44.1%
Total Debt to Equity 44.1%
Interest Coverage 7
Management Effectiveness
Return On Assets 1%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 5%
Ret/ On T. Cap. - 3 Yr. Avg. 5.7%
Return On Equity 7.2%
Return On Equity - 3 Yr. Avg. 8.1%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 22.3%
Eff/ Tax Rate - 3 Yr. Avg. 23%
Payout Ratio 58.3%

TRMK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TRMK stock intrinsic value calculation we used $585 million for the last fiscal year's total revenue generated by Trustmark. The default revenue input number comes from 2017 income statement of Trustmark. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TRMK stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 15.1%, whose default value for TRMK is calculated based on our internal credit rating of Trustmark, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Trustmark.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TRMK stock the variable cost ratio is equal to 60.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $78 million in the base year in the intrinsic value calculation for TRMK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Trustmark.

Corporate tax rate of 27% is the nominal tax rate for Trustmark. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TRMK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TRMK are equal to 2322.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Trustmark operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TRMK is equal to -2009.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Trustmark - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 68 million for Trustmark is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Trustmark at the current share price and the inputted number of shares is $2.4 billion.

RELATED COMPANIES Price Int.Val. Rating
FBMS First Bancshar 40.20 62.21  str.buy
PNFP Pinnacle Finan 64.20 190.90  str.buy

COMPANY NEWS

▶ Trustmark Corporation to Host Earnings Call   [Jul-25-18 07:30AM  ACCESSWIRE]
▶ Trustmark: 2Q Earnings Snapshot   [Jul-24-18 05:38PM  Associated Press]
▶ Trustmark Q2 Earnings Preview   [08:43AM  Benzinga]
▶ Trustmark Names New Chief Information Officer   [Jun-29-18 12:45PM  Business Wire]
▶ Trustmark Corporation to Host Earnings   [Apr-25-18 07:45AM  ACCESSWIRE]
▶ Trustmark: 1Q Earnings Snapshot   [Apr-24-18 05:29PM  Associated Press]
▶ Trustmark meets 4Q profit forecasts   [Jan-23-18 05:19PM  Associated Press]
▶ ETFs with exposure to Trustmark Corp. : December 5, 2017   [Dec-05-17 01:21PM  Capital Cube]
▶ Trustmark Corporation to Host Earnings Call   [Oct-25-17 06:40AM  ACCESSWIRE]
▶ Trustmark beats 3Q profit forecasts   [Oct-24-17 05:47PM  Associated Press]
▶ ETFs with exposure to Trustmark Corp. : October 11, 2017   [Oct-11-17 12:06PM  Capital Cube]
▶ Trustmark beats Street 2Q forecasts   [Jul-25-17 11:56PM  Associated Press]
▶ ETFs with exposure to Trustmark Corp. : July 14, 2017   [Jul-14-17 05:13PM  Capital Cube]
▶ ETFs with exposure to Trustmark Corp. : June 1, 2017   [Jun-01-17 02:06PM  Capital Cube]
▶ Trustmark beats Street 1Q forecasts   [Apr-25-17 05:28PM  Associated Press]
▶ ETFs with exposure to Trustmark Corp. : February 2, 2017   [Feb-02-17 03:03PM  Capital Cube]
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