Trustmark Co. Expected to Post Q1 2022 Earnings of $0.39 Per Share (NASDAQ:TRMK)

Trustmark Co. (NASDAQ:TRMK) – Investment analysts Piper Sandler lowered their first quarter 2022 earnings per share estimates for shares of Trustmark in a note to investors on Wednesday, January 26. Piper Sandler analyst B. Milsaps now expects the financial services provider to earn $0.39 per share for the quarter, down from its previous forecast of $0.43. Piper Sandler also released estimates of Trustmark’s Q2 2022 earnings at $0.43 EPS, Q3 2022 earnings at $0.49 EPS, Q4 2022 earnings at $0.54 EPS, fiscal 2022 at $1.85 EPS, Q1 2023 earnings at $0.51 EPS, Q2 2023 earnings at $0.58 EPS, Q3 2023 earnings at $0.63 EPS, Q4 2023 earnings at $0.63 EPS and FY2023 profit at $2.35 EPS. Trustmark Inc (NASDAQ:TRMK) last announced its results on Monday, January 24. The financial services provider reported EPS of $0.42 for the quarter, missing Thomson Reuters consensus estimate of $0.49 per ($0.07). Trustmark had a return on equity of 10.31% and a net margin of 24.38%. The company posted revenue of $149.10 million for the quarter, versus a consensus estimate of $152.94 million. During the same period of the previous year, the company achieved EPS of $0.81. Trustmark’s revenue for the quarter decreased 16.0% year-over-year.

Separately, Zacks Investment Research downgraded shares of Trustmark from a “buy” to a “hold” rating in a research report on Saturday, October 30.

The NASDAQ TRMK opened at $32.22 on Friday. Trustmark has a 1-year minimum of $27.23 and a 1-year maximum of $36.31. The company has a debt ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.83. The stock has a market capitalization of $2.01 billion, a P/E ratio of 11.80 and a beta of 0.95. The company’s fifty-day moving average is $32.87 and its two-hundred-day moving average is $31.95.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 will receive a dividend of $0.23 per share. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Monday, February 28. Trustmark’s dividend payout ratio is currently 33.70%.

Separately, director Tracy T. Conerly sold 1,451 shares of the company in a transaction dated Monday, Nov. 22. The shares were sold at an average price of $33.45, for a total value of $48,535.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the shares are currently held by insiders.

A number of hedge funds and other institutional investors have recently changed their positions in the stock. Invesco Ltd. increased its holdings in Trustmark by 36.0% in the second quarter. Invesco Ltd. now owns 283,219 shares of the financial services provider worth $8,723,000 after purchasing an additional 74,958 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Trustmark during the second quarter at a value of $348,000. Richard Bernstein Advisors LLC increased its position in shares of Trustmark by 9.2% during the third quarter. Richard Bernstein Advisors LLC now owns 85,898 shares of the financial services provider worth $2,767,000 after acquiring an additional 7,246 shares last quarter. WINTON GROUP Ltd increased its position in shares of Trustmark by 6.5% during the third quarter. WINTON GROUP Ltd now owns 15,686 shares of the financial services provider worth $505,000 after acquiring 956 additional shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new equity stake in Trustmark during the third quarter for $256,000. Institutional investors and hedge funds hold 64.79% of the company’s shares.

Company Profile

Trustmark Corp. is a bank holding company. The company engages in the provision of banking, wealth management and insurance solutions. It operates through the following segments: General Banking, Wealth Management and Insurance. The General Banking segment offers traditional banking products and services, including business and consumer banking services, such as checking accounts, savings programs, overdraft facilities, commercial, installment and real estate loans, home equity loans, lines of credit, drive-thru and night services. deposit services and safety deposit boxes.

Further Reading: Stock Splits

Earnings history and estimates for Trustmark (NASDAQ: TRMK)

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