DA Davidson Equities Analysts Reduce Earnings Estimates for Trustmark Co. (NASDAQ:TRMK)

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

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

Other equities analysts have also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, September 20th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Trustmark has a consensus rating of “Hold” and an average target price of $34.50.

Trustmark Trading Up 2.2 %

Shares of TRMK stock opened at $31.81 on Friday. Trustmark has a fifty-two week low of $18.96 and a fifty-two week high of $35.72. The company has a 50 day moving average price of $32.15 and a 200 day moving average price of $30.30. The stock 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 debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.87.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings 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 acquiring an additional 351 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Trustmark during the first quarter worth approximately $52,000. Innealta Capital LLC acquired a new stake in Trustmark during the second quarter worth approximately $61,000. CWM LLC lifted its position in shares of Trustmark by 14.6% during the 2nd quarter. CWM LLC now owns 4,783 shares of the financial services provider’s stock worth $144,000 after buying an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Trustmark in the 2nd quarter valued at $238,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Trustmark Announces Dividend

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

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.