DA Davidson Issues Positive Forecast for Trustmark Earnings

Trustmark Co. (NASDAQ:TRMK - Free Report) - Investment analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of Trustmark in a research report issued on Thursday, October 24th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $2.92 per share for the year, up from their prior estimate of $2.87. DA Davidson has a "Neutral" rating and a $38.00 price target on the stock. The consensus estimate for Trustmark's current full-year earnings is $2.92 per share. DA Davidson also issued estimates for Trustmark's Q4 2024 earnings at $0.80 EPS.

Trustmark (NASDAQ:TRMK - Get Free Report) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $192.77 million. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. During the same quarter in the previous year, the firm earned $0.64 earnings per share.

A number of other equities analysts have also commented on the company. Truist Financial increased their price target on Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research note on Friday. StockNews.com upgraded Trustmark from a "sell" rating to a "hold" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $34.75.

Trustmark Price Performance

Shares of TRMK traded down $0.38 during midday trading on Friday, hitting $34.08. 221,246 shares of the company traded hands, compared to its average volume of 273,678. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73. The firm has a 50 day moving average of $32.65 and a 200-day moving average of $30.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87. Trustmark has a 52 week low of $19.08 and a 52 week high of $35.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRMK. GAMMA Investing LLC raised its holdings in shares of Trustmark by 62.1% in the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider's stock worth $28,000 after buying an additional 351 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Trustmark by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the financial services provider's stock worth $925,000 after purchasing an additional 600 shares during the last quarter. CWM LLC lifted its position in shares of Trustmark by 14.6% during the second quarter. CWM LLC now owns 4,783 shares of the financial services provider's stock worth $144,000 after purchasing an additional 611 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Trustmark by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 53,449 shares of the financial services provider's stock valued at $1,502,000 after purchasing an additional 716 shares during the period. Finally, Barnes Pettey Financial Advisors LLC grew its holdings in shares of Trustmark by 9.2% in the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,882 shares of the financial services provider's stock worth $267,000 after purchasing an additional 750 shares during the last quarter. Institutional investors own 67.64% of the company's stock.

Trustmark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 29th. Trustmark's dividend payout ratio is currently 35.80%.

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.