DA Davidson Analysts Lower Earnings Estimates for Trustmark

Trustmark Co. (NASDAQ:TRMK) – Research analysts at DA Davidson lowered their FY2025 earnings per share estimates for Trustmark in a note issued to investors on Wednesday, April 2nd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $3.34 for the year, down from their prior estimate of $3.36. DA Davidson currently has a “Neutral” rating and a $41.00 price target on the stock. The consensus estimate for Trustmark’s current full-year earnings is $3.42 per share. DA Davidson also issued estimates for Trustmark’s FY2025 earnings at $3.34 EPS.

Several other research firms have also issued reports on TRMK. Janney Montgomery Scott started coverage on Trustmark in a report on Friday, January 24th. They set a “buy” rating and a $42.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on Trustmark from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.60.

Trustmark Trading Down 7.9 %

Shares of NASDAQ:TRMK opened at $31.85 on Friday. The stock has a market capitalization of $1.94 billion, a PE ratio of 8.75 and a beta of 0.71. The company’s 50-day moving average price is $35.87 and its two-hundred day moving average price is $35.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a one year low of $25.41 and a one year high of $40.73.

Trustmark (NASDAQ:TRMK) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. Trustmark had a net margin of 19.42% and a return on equity of 10.12%.

Trustmark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Trustmark’s previous quarterly dividend of $0.23. Trustmark’s dividend payout ratio (DPR) is currently 26.37%.

Hedge Funds Weigh In On Trustmark

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in Trustmark by 82.2% during the fourth quarter. Wellington Management Group LLP now owns 2,472,561 shares of the financial services provider’s stock worth $87,454,000 after buying an additional 1,115,708 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Trustmark by 176.2% during the 4th quarter. JPMorgan Chase & Co. now owns 339,662 shares of the financial services provider’s stock worth $12,014,000 after acquiring an additional 216,706 shares during the period. Trustmark National Bank Trust Department boosted its position in shares of Trustmark by 129.6% during the 4th quarter. Trustmark National Bank Trust Department now owns 299,423 shares of the financial services provider’s stock worth $10,591,000 after acquiring an additional 169,011 shares in the last quarter. Norges Bank bought a new position in Trustmark in the fourth quarter valued at approximately $5,704,000. Finally, Millennium Management LLC raised its position in Trustmark by 112.1% during the fourth quarter. Millennium Management LLC now owns 175,786 shares of the financial services provider’s stock valued at $6,218,000 after purchasing an additional 92,890 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

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.