Trustmark (NASDAQ:TRMK) Announces Earnings Results, Beats Expectations By $0.02 EPS

Trustmark (NASDAQ:TRMK) released its quarterly earnings results on Tuesday. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02, Yahoo Finance reports. Trustmark had a net margin of 16.24% and a return on equity of 9.32%. The business had revenue of $192.30 million for the quarter, compared to analyst estimates of $192.77 million. During the same period in the previous year, the company earned $0.64 earnings per share.

Trustmark Price Performance

Shares of Trustmark stock traded up $0.21 during trading on Wednesday, reaching $34.71. The company’s stock had a trading volume of 79,796 shares, compared to its average volume of 272,479. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Trustmark has a 12-month low of $18.96 and a 12-month high of $35.72. The business has a 50 day moving average price of $32.48 and a 200-day moving average price of $30.85. The company has a market capitalization of $2.12 billion, a P/E ratio of 13.42 and a beta of 0.73.

Analysts Set New Price Targets

TRMK has been the topic of several research analyst reports. StockNews.com downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. DA Davidson raised their target price on Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Truist Financial cut their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.50.

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.