Trustmark (NASDAQ:TRMK) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Trustmark (NASDAQ:TRMK) released its quarterly earnings results on Tuesday. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08, Briefing.com reports. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same period last year, the firm earned $0.82 earnings per share.

Trustmark Trading Up 5.2 %

Shares of TRMK stock traded up $1.42 during trading hours on Wednesday, reaching $28.97. 162,660 shares of the stock were exchanged, compared to its average volume of 270,956. Trustmark has a 12-month low of $18.96 and a 12-month high of $29.84. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $26.74 and its 200-day moving average price is $25.43. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.85 and a beta of 0.82.

Wall Street Analyst Weigh In

TRMK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Piper Sandler restated a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. DA Davidson reissued a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Finally, Truist Financial lifted their price objective on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.67.

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.