DA Davidson Weighs in on Trustmark Co.’s Q1 2024 Earnings (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMKFree Report) – Research analysts at DA Davidson issued their Q1 2024 earnings estimates for shares of Trustmark in a note issued to investors on Tuesday, January 30th. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $0.63 per share for the quarter. DA Davidson currently has a “Neutral” rating on the stock. The consensus estimate for Trustmark’s current full-year earnings is $2.39 per share. DA Davidson also issued estimates for Trustmark’s FY2024 earnings at $2.54 EPS and FY2025 earnings at $2.58 EPS.

Other research analysts also recently issued reports about the stock. Truist Financial lifted their target price on shares of Trustmark from $21.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, December 15th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods increased their target price on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Trustmark presently has an average rating of “Hold” and an average price target of $30.00.

Check Out Our Latest Research Report on Trustmark

Trustmark Stock Performance

Shares of NASDAQ TRMK opened at $26.99 on Wednesday. The stock’s fifty day simple moving average is $26.59 and its 200 day simple moving average is $24.01. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.96 and a beta of 0.86. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. Trustmark has a 52-week low of $18.96 and a 52-week high of $30.92.

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

Institutional Investors Weigh In On Trustmark

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Trustmark by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 731,012 shares of the financial services provider’s stock worth $15,439,000 after buying an additional 10,534 shares during the period. Principal Financial Group Inc. raised its stake in Trustmark by 65.7% during the 2nd quarter. Principal Financial Group Inc. now owns 634,794 shares of the financial services provider’s stock valued at $13,407,000 after purchasing an additional 251,681 shares during the last quarter. Citigroup Inc. boosted its holdings in Trustmark by 186.4% in the 2nd quarter. Citigroup Inc. now owns 79,368 shares of the financial services provider’s stock valued at $1,676,000 after purchasing an additional 51,660 shares during the period. AE Wealth Management LLC bought a new position in shares of Trustmark during the 3rd quarter worth about $337,000. Finally, SG Americas Securities LLC acquired a new position in shares of Trustmark during the third quarter valued at about $535,000. Institutional investors own 65.26% of the company’s stock.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, February 29th. Trustmark’s payout ratio is 33.95%.

About Trustmark

(Get Free Report)

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.

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