DA Davidson Analysts Raise Earnings Estimates for Trustmark Co. (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMK) – Equities researchers at DA Davidson upped their Q1 2024 earnings per share estimates for shares of Trustmark in a research note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.64 per share for the quarter, up from their previous estimate of $0.63. DA Davidson has a “Neutral” rating on the stock. The consensus estimate for Trustmark’s current full-year earnings is $2.44 per share. DA Davidson also issued estimates for Trustmark’s FY2024 earnings at $2.55 EPS and FY2025 earnings at $2.64 EPS.

TRMK has been the topic of several other research reports. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods boosted their price target on Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. StockNews.com lowered Trustmark from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Finally, Truist Financial boosted their target price on Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Trustmark presently has an average rating of “Hold” and a consensus target price of $29.67.

Trustmark Stock Down 0.7 %

NASDAQ:TRMK opened at $25.46 on Thursday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 9.39 and a beta of 0.82. Trustmark has a twelve month low of $18.96 and a twelve month high of $28.65. The stock’s 50 day moving average price is $26.75 and its two-hundred day moving average price is $25.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

Trustmark (NASDAQ:TRMK) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $189.85 million for the quarter, compared to analysts’ expectations of $187.63 million. Trustmark had a return on equity of 10.77% and a net margin of 15.06%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Trustmark by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,712,905 shares of the financial services provider’s stock valued at $187,156,000 after acquiring an additional 50,795 shares during the period. Wellington Management Group LLP bought a new stake in shares of Trustmark during the 4th quarter valued at $12,572,000. Price T Rowe Associates Inc. MD lifted its position in shares of Trustmark by 3.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 43,961 shares of the financial services provider’s stock valued at $1,226,000 after acquiring an additional 1,621 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Trustmark during the 4th quarter valued at $203,000. Finally, Legal & General Group Plc lifted its position in shares of Trustmark by 0.3% during the 4th quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider’s stock valued at $4,657,000 after acquiring an additional 546 shares during the period. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, February 29th. Trustmark’s dividend payout ratio is 33.95%.

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 operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; 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, as well as treasury management services.