Trustmark Co. (NASDAQ:TRMK) to Post Q1 2024 Earnings of $0.64 Per Share, DA Davidson Forecasts

Trustmark Co. (NASDAQ:TRMK) – DA Davidson boosted their Q1 2024 earnings estimates for shares of Trustmark in a report issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $0.64 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.

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

Several other equities analysts have also recently issued reports on TRMK. Truist Financial lifted their price objective on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Piper Sandler reissued a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a research report on Tuesday, March 26th. TheStreet raised shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Trustmark from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.67.

Trustmark Stock Performance

Shares of TRMK opened at $25.73 on Thursday. The firm’s 50 day moving average is $26.74 and its 200-day moving average is $25.27. The stock has a market capitalization of $1.57 billion, a P/E ratio of 9.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. Trustmark has a 12-month low of $18.96 and a 12-month high of $28.65.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Trustmark by 1.3% in the 2nd quarter. FMR LLC now owns 27,900 shares of the financial services provider’s stock worth $814,000 after purchasing an additional 349 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Trustmark by 2.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 15,097 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 389 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Trustmark by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,981 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 399 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Trustmark by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,861 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 410 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Trustmark by 0.3% in the 4th quarter. Legal & General Group Plc now owns 167,034 shares of the financial services provider’s stock worth $4,657,000 after purchasing an additional 546 shares during the last quarter. Institutional investors own 67.64% of the company’s stock.

Trustmark Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, February 29th. Trustmark’s dividend payout ratio (DPR) is presently 33.95%.

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.