Trustmark Corp Stock Research

Market Summary

USD20.88-0.63

Market Closed

-2.93%

TRMK Alerts

2 major insider buys recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

TRMK Stock Price

TRMK RSI Chart

TRMK Valuation

Market Cap

1.3B

Price/Earnings (Trailing)

14.27

Price/Sales (Trailing)

2.08

EV/EBITDA

2.1

Price/Free Cashflow

6.65

TRMK Price/Sales (Trailing)

TRMK Profitability

EBT Margin

13.61%

Return on Equity

4.82%

Return on Assets

0.4%

Free Cashflow Yield

15.03%

TRMK Fundamentals

TRMK Revenue

Revenue (TTM)

637.0M

Revenue Y/Y

91.78%

Revenue Q/Q

12.68%

TRMK Earnings

Earnings (TTM)

93.0M

Earnings Y/Y

72.2%

Earnings Q/Q

247.67%

Price Action

52 Week Range

20.2838.47

(Low)(High)

Last 7 days

-1.5%

Last 30 days

-9%

Last 90 days

-25.7%

Trailing 12 Months

-25.2%

TRMK Financial Health

TRMK Investor Care

Dividend Yield

4.23%

Dividend/Share (TTM)

0.92

Buy Backs (1Y)

0.25%

Diluted EPS (TTM)

1.52

Peers (Alternatives to Trustmark)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	414.1B	128.7B	-0.56%	6.59%	10.99	3.22	5.79%	-0.71%
BAC	221.6B	98.0B	-3.48%	-21.76%	7.74	2.26	9.45%	-7.66%
WFC	156.8B	63.2B	3.09%	-9.51%	11.89	2.9	58.68%	-29.54%
PNC	51.3B	22.0B	-8.75%	-30.78%	8.39	2.43	11.93%	6.78%
USB	44.9B	21.5B	-10.56%	-40.33%	7.52	2.09	58.44%	-17.60%
FHN	9.9B	3.1B	-38.40%	-51.83%	11.04	3.7	46.06%	-0.93%
MID-CAP
CFR	6.6B	1.8B	-5.40%	-16.91%	10.07	3.77	72.29%	54.33%
BOKF	6.2B	1.6B	-0.12%	-1.10%	10.04	3.83	39.57%	16.01%
ZION	4.0B	3.1B	3.77%	-48.14%	4.45	1.32	35.84%	-10.10%
PNFP	3.9B	1.4B	-7.06%	-37.74%	6.87	2.8	33.23%	6.34%
SMALL-CAP
PRK	1.8B	408.0M	-6.41%	-15.37%	12.13	4.76	19.36%	-4.52%
TRMK	1.3B	637.0M	-9.00%	-25.21%	14.27	2.08	45.85%	-25.39%
WABC	1.0B	247.6M	-3.26%	-34.25%	7.47	4.22	41.59%	57.20%
HOPE	961.3M	809.6M	-8.13%	-41.35%	4.89	1.19	41.27%	-11.26%

Financials for Trustmark

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	17.6%	637	542	469	428	437
EBITDA	-5.7%	608	645	585	609	-
EBITDA Margin	-18.4%	1.12*	1.38*	1.37*	1.39*	-
Earnings Before Taxes	34.9%	99.00	74.00	157	132	148
EBT Margin	-59.2%	0.14*	0.33*	0.31*	0.34*	-
Interest Expenses	10.8%	495	446	409	415	-
Net Income	29.3%	93.00	72.00	132	111	125
Net Income Margin	-53.0%	0.13*	0.28*	0.26*	0.29*	-
Free Cahsflow	-10.5%	270	302	284	469	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	4.8%	18,877	18,015	17,191	16,952	17,442
Net PPE	5.5%	224	212	211	208	207
Goodwill	0%	384	384	384	384	384
Liabilities	4.8%	17,315	16,523	15,682	15,365	15,810
Shareholder's Equity	4.7%	1,562	1,492	1,509	1,587	1,631
Retained Earnings	2.3%	1,636	1,600	1,649	1,620	1,600
Additional Paid-In Capital	0.4%	155	155	154	161	167
Shares Outstanding	0.1%	61.00	61.00	61.00	61.00	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-20.0%	237	297	330	311	494
Share Based Compensation	9.6%	5.00	5.00	5.00	5.00	5.00
Cashflow From Investing	4.2%	-2,185	-2,280	-1,964	-1,759	-781
Cashflow From Financing	193.8%	1,328	452	-61.10	-76.65	597
Dividend Payments	0.0%	57.00	57.00	57.00	57.00	58.00
Buy Backs	-37.0%	16.00	25.00	52.00	53.00	67.00

Risks for TRMK

What is the probability of a big loss on TRMK?

61.9%

Probability that Trustmark stock will be more than 20% underwater in next one year

23.1%

Probability that Trustmark stock will be more than 30% underwater in next one year.

1.5%

Probability that Trustmark stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TRMK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Trustmark was unfortunately bought at previous high price.

Drawdowns

Returns for TRMK

Cumulative Returns on TRMK

1.3%

10-Year Cumulative Returns

0.6%

7-Year Cumulative Returns

-5.4%

5-Year Cumulative Returns

-1.2%

3-Year Cumulative Returns

What are the long-term rolling returns for TRMK?

FIve years rolling returns for Trustmark.

Annualized Returns

Which funds bought or sold TRMK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-8.13	-118,018	219,213	-%
2023-05-25	Brandywine Global Investment Management, LLC	added	134	2,934,890	7,384,310	0.03%
2023-05-22	Arete Wealth Advisors, LLC	added	5.52	-1,505,050,000	1,310,000	0.11%
2023-05-22	Raleigh Capital Management Inc.	sold off	-100	-2,974	-	-%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-2.91	-2,944,100	6,460,900	-%
2023-05-19	Coppell Advisory Solutions LLC	sold off	-100	-43,288	-	-%
2023-05-18	JPMORGAN CHASE & CO	added	16.11	-2,163,340	9,958,660	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	2.87	-6,960,000	18,610,000	0.03%
2023-05-17	Advisory Services Network, LLC	sold off	-100	-663	-	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.35	-690,000	1,493,000	-%

Latest Funds Activity

Are funds buying TRMK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TRMK

No. of Funds

Trustmark News

Schedule 13G FIlings of Trustmark

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	robert m hearin support foundation	6.54%	3,983,560	SC 13D/A
Feb 14, 2023	earnest partners llc	6.1%	3,689,701	SC 13G/A
Feb 09, 2023	vanguard group inc	10.91%	6,648,706	SC 13G/A
Jan 23, 2023	blackrock inc.	14.2%	8,628,385	SC 13G/A
Feb 11, 2022	robert m hearin support foundation	6.7%	4,157,323	SC 13D/A
Feb 10, 2022	vanguard group inc	10.07%	6,290,864	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	6.1%	3,799,302	SC 13G/A
Jan 27, 2022	blackrock inc.	14.7%	9,169,925	SC 13G/A
Jan 25, 2022	blackrock inc.	14.7%	9,169,925	SC 13G/A
Sep 10, 2021	vanguard group inc	10.10%	6,310,561	SC 13G/A

TRMK Fair Value

Show Fair-Value

Recent SEC filings of Trustmark

View All Filings

Date Filed	Form Type	Document
May 16, 2023	4	Insider Trading
May 16, 2023	4	Insider Trading
May 08, 2023	10-Q	Quarterly Report
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading
Apr 27, 2023	4	Insider Trading

Latest Insider Trading transactions for TRMK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-15	PUCKETT RICHARD H	bought	42,220	21.11	2,000	-
2023-05-15	BAKER ADOLPHUS B	bought	21,000	21.00	1,000	-
2023-05-12	PUCKETT RICHARD H	bought	40,800	20.4	2,000	-
2023-05-12	BAKER ADOLPHUS B	bought	20,510	20.51	1,000	-
2023-04-25	HOST GERARD R	acquired	-	-	2,318	-
2023-04-25	Hays James Clay Jr	acquired	-	-	2,318	-
2023-04-25	Collins Augustus L	acquired	-	-	2,318	-
2023-04-25	Conerly Tracy T	acquired	-	-	2,318	-
2023-04-25	BAKER ADOLPHUS B	acquired	-	-	2,318	-
2023-04-25	Eduardo Marcelo L	acquired	-	-	2,318	-

About Trustmark

Duane A. Dewey

www.trustmark.com

2690

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. The company also provides mortgage banking services, including construction financing, production of conventional and government-insured mortgages, and secondary marketing and mortgage servicing. In addition, it provides wealth management and trust services, such as administration of personal trusts and estates; management of investment accounts for individuals, employee benefit plans, and charitable foundations; and corporate trust and institutional custody, securities brokerage, financial and estate planning, retirement plan, and investment management services. Further, the company offers business insurance products and services for medical professionals, construction, manufacturing, hospitality, real estate, and group life and health plans; and life and health insurance, and personal line policies for individual customers. As of December 31, 2021, it operated 167 full-service branches and 13 limited service branches; and 198 automated teller machines and 69 interactive teller machines. The company was founded in 1889 and is headquartered in Jackson, Mississippi.

TRMK Income Statement

2023-03-31

Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Interest Income

Interest and fees on LHFS & LHFI

$ 175,509

$ 90,275

Interest and fees on PPP loans

168

Interest on securities:

Taxable

16,761

12,357

Tax exempt

Interest on federal funds sold and securities purchased under reverse repurchase agreements

Other interest income

6,527

817

Total Interest Income

198,900

103,713

Interest Expense

Interest on deposits

40,898

2,760

Interest on federal funds purchased and securities sold under repurchase agreements

4,832

Other interest expense

15,575

1,539

Total Interest Expense

61,305

4,369

Net Interest Income

137,595

99,344

Provision for credit losses (PCL), LHFI

3,244

(860)

PCL, off-balance sheet credit exposures

(2,242)

(1,106)

Net Interest Income After PCL

136,593

101,310

Noninterest Income

Service charges on deposit accounts

10,336

9,451

Bank card and other fees

7,803

8,442

Mortgage banking, net

7,639

9,873

Insurance commissions

14,305

14,089

Wealth management

8,780

9,054

Other, net

2,514

3,206

Total Noninterest Income

51,377

54,115

Noninterest Expense

Salaries and employee benefits

74,056

69,585

Services and fees

^[1]

25,426

25,314

Net occupancy - premises

7,629

7,079

Equipment expense

6,405

6,061

Other expense

^[1]

14,811

13,480

Total Noninterest Expense

128,327

121,519

Income before income taxes

59,643

33,906

Income taxes

9,343

4,695

Net Income

$ 50,300

$ 29,211

Earnings Per Share

Basic

$ 0.82

$ 0.47

Diluted

$ 0.82

$ 0.47

[1]	During the first quarter of 2023, Trustmark reclassified its debit card transaction fees from other expense to services and fees. The prior period has been reclassified accordingly.

TRMK Balance Sheet

2023-03-31

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,297,144	$ 734,787
Federal funds sold and securities purchased under reverse repurchase agreements	0	4,000
Securities available for sale, at fair value (amortized cost: $2,200,255 - 2023 $2,270,709 - 2022; allowance for credit losses (ACL): $0)	1,984,162	2,024,082
Securities held to maturity, net of ACL of $0 (fair value: $1,406,405 - 2023; $1,406,589 - 2022)	1,474,338	1,494,514
Loans held for sale (LHFS)	175,926	135,226
Loans held for investment (LHFI)	12,497,195	12,204,039
Less ACL, LHFI	122,239	120,214
Net LHFI	12,374,956	12,083,825
Premises and equipment, net	223,975	212,365
Mortgage servicing rights (MSR)	127,206	129,677
Goodwill	384,237	384,237
Identifiable intangible assets, net	3,352	3,640
Other real estate, net	1,684	1,986
Operating lease right-of-use assets	35,315	36,301
Other assets	794,883	770,838
Total Assets	18,877,178	18,015,478
Deposits:
Noninterest-bearing	3,797,055	4,093,771
Interest-bearing	10,986,606	10,343,877
Total deposits	14,783,661	14,437,648
Federal funds purchased and securities sold under repurchase agreements	477,980	449,331
Other borrowings	1,485,181	1,050,938
Subordinated notes	123,317	123,262
Junior subordinated debt securities	61,856	61,856
ACL on off-balance sheet credit exposures	34,596	36,838
Operating lease liabilities	37,988	38,932
Other liabilities	310,500	324,405
Total Liabilities	17,315,079	16,523,210
Shareholders' Equity
Authorized: 250,000,000 shares Issued and outstanding: 61,048,516 shares - 2023; 60,977,686 shares - 2022	12,720	12,705
Capital surplus	155,297	154,645
Retained earnings	1,636,463	1,600,321
Accumulated other comprehensive income (loss), net of tax	(242,381)	(275,403)
Total Shareholders' Equity	1,562,099	1,492,268
Total Liabilities and Shareholders' Equity	$ 18,877,178	$ 18,015,478