FY2024 Earnings Estimate for Trustmark Issued By DA Davidson

Trustmark Co. (NASDAQ:TRMK) – Equities researchers at DA Davidson raised their FY2024 EPS estimates for Trustmark in a research note 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 currently has a “Neutral” rating and a $38.00 target price 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) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $192.30 million for the quarter, compared to analyst estimates 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 business earned $0.64 earnings per share.

TRMK has been the subject of several other reports. Truist Financial lifted their price target on shares of Trustmark from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $34.75.

Trustmark Price Performance

TRMK stock opened at $34.08 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.26 and a beta of 0.73. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Trustmark has a 12-month low of $19.08 and a 12-month high of $35.75. The company’s fifty day simple moving average is $32.65 and its 200 day simple moving average is $30.95.

Trustmark Dividend Announcement

The firm 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 is Friday, November 29th. Trustmark’s payout ratio is presently 35.80%.

Institutional Investors Weigh In On Trustmark

Several hedge funds and other institutional investors have recently made changes to their positions in TRMK. GAMMA Investing LLC increased its position in shares of Trustmark by 62.1% during the second quarter. GAMMA Investing LLC now owns 916 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 351 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Trustmark during the first quarter worth about $52,000. Innealta Capital LLC bought a new stake in shares of Trustmark during the second quarter worth about $61,000. nVerses Capital LLC bought a new stake in shares of Trustmark during the third quarter worth about $67,000. Finally, CWM LLC increased 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 acquiring an additional 611 shares in the last quarter. 67.64% of the stock is owned by institutional investors.

About Trustmark

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.