Brokers Offer Predictions for Trustmark Co.’s Q2 2024 Earnings (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMK) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Trustmark in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst G. Tenner expects that the financial services provider will post earnings per share of $0.58 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.

Several other analysts have also recently weighed in on TRMK. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Piper Sandler reiterated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Truist Financial boosted their target price on Trustmark from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $36.00 in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trustmark has a consensus rating of “Hold” and an average price target of $32.75.

Trustmark Trading Down 1.1 %

Shares of Trustmark stock opened at $29.60 on Monday. The company has a 50 day simple moving average of $27.00 and a two-hundred day simple moving average of $25.72. The firm has a market cap of $1.81 billion, a PE ratio of 11.52 and a beta of 0.82. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

Trustmark (NASDAQ:TRMK) last released 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 firm had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. During the same quarter last year, the firm posted $0.82 EPS.

Institutional Trading of Trustmark

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AE Wealth Management LLC bought a new stake in Trustmark during the 3rd quarter valued at $337,000. SG Americas Securities LLC purchased a new stake in shares of Trustmark during the third quarter worth about $535,000. Commonwealth Equity Services LLC increased its holdings in Trustmark by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 587 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Trustmark by 29.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,369 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,813 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Trustmark in the 3rd quarter worth approximately $562,000. Institutional investors own 67.64% of the company’s stock.

Trustmark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.92 annualized dividend and a yield of 3.11%. Trustmark’s payout ratio is 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.