Q3 2024 EPS Estimates for Trustmark Co. Decreased by DA Davidson (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMK) – Stock analysts at DA Davidson reduced their Q3 2024 EPS estimates for Trustmark in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.82 per share for the quarter, down from their prior estimate of $0.83. 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 FY2025 earnings at $3.22 EPS.

Trustmark (NASDAQ:TRMK) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The business had revenue of $283.96 million for the quarter, compared to analyst estimates of $229.83 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share.

A number of other brokerages have also issued reports on TRMK. Truist Financial dropped their target price on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.50.

Trustmark Trading Up 2.2 %

Shares of TRMK stock opened at $31.81 on Friday. Trustmark has a 1 year low of $18.96 and a 1 year high of $35.72. The firm’s fifty day simple moving average is $32.15 and its 200 day simple moving average is $30.27. The firm has a market capitalization of $1.95 billion, a P/E ratio of 12.38 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10.

Trustmark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.89%. Trustmark’s dividend payout ratio is currently 35.80%.

Institutional Investors Weigh In On Trustmark

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Trustmark by 62.1% in the 2nd quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Trustmark in the 1st quarter valued at $52,000. Innealta Capital LLC acquired a new stake in shares of Trustmark in the 2nd quarter valued at $61,000. CWM LLC boosted its stake in shares of Trustmark by 14.6% in the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 611 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Trustmark in the 2nd quarter valued at $238,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

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.