Q2 2024 Earnings Forecast for Trustmark Co. Issued By DA Davidson (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMK) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Trustmark in a research note issued to investors on Friday, April 26th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.58 per share for the quarter. DA Davidson has a “Neutral” rating and a $34.00 price objective on the stock. The consensus estimate for Trustmark’s current full-year earnings is $2.53 per share. DA Davidson also issued estimates for Trustmark’s FY2024 earnings at $2.79 EPS.

TRMK has been the topic of several other research reports. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $36.00 in a research report on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a research note on Tuesday, March 26th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday. TheStreet upgraded Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Finally, Truist Financial increased their price target on Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.75.

Trustmark Stock Up 0.8 %

Shares of TRMK stock opened at $30.05 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. Trustmark has a one year low of $18.96 and a one year high of $30.21. The company’s fifty day moving average price is $26.89 and its 200-day moving average price is $25.60. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.69 and a beta of 0.82.

Trustmark (NASDAQ:TRMK) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.04%. During the same quarter in the previous year, the firm earned $0.82 earnings per share.

Hedge Funds Weigh In On Trustmark

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Trustmark in the third quarter worth $28,000. Arlington Trust Co LLC purchased a new position in shares of Trustmark during the 4th quarter worth about $84,000. Nisa Investment Advisors LLC grew its holdings in Trustmark by 1,029.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,055 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 5,519 shares during the last quarter. Advisor Resource Council purchased a new stake in Trustmark in the 4th quarter worth about $230,000. Finally, Teza Capital Management LLC bought a new stake in Trustmark in the third quarter worth about $242,000. Hedge funds and other institutional investors own 67.64% of the company’s stock.

Trustmark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark’s payout ratio is 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.