Trustmark (NASDAQ:TRMK) Announces Quarterly Earnings Results

Trustmark (NASDAQ:TRMK) announced its earnings results on Tuesday. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06, FiscalAI reports. Trustmark had a return on equity of 10.90% and a net margin of 19.82%.The company had revenue of $209.44 million for the quarter, compared to analysts’ expectations of $207.05 million.

Trustmark Stock Performance

Trustmark stock traded up $0.23 during mid-day trading on Tuesday, reaching $41.14. The company’s stock had a trading volume of 316,216 shares, compared to its average volume of 292,224. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $2.47 billion, a P/E ratio of 11.24 and a beta of 0.69. Trustmark has a 12-month low of $29.77 and a 12-month high of $43.29. The firm’s fifty day moving average price is $39.92 and its two-hundred day moving average price is $39.21.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRMK. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRMK. Wellington Management Group LLP increased its position in Trustmark by 8.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,883,882 shares of the financial services provider’s stock valued at $153,802,000 after buying an additional 316,851 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Trustmark by 1,927.6% in the third quarter. Bridgeway Capital Management LLC now owns 152,067 shares of the financial services provider’s stock valued at $6,022,000 after acquiring an additional 144,567 shares during the period. Bank of America Corp DE boosted its holdings in shares of Trustmark by 80.4% in the third quarter. Bank of America Corp DE now owns 267,147 shares of the financial services provider’s stock worth $10,579,000 after buying an additional 119,044 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Trustmark by 95.8% during the 3rd quarter. Millennium Management LLC now owns 229,136 shares of the financial services provider’s stock worth $9,074,000 after acquiring an additional 112,111 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Trustmark by 256.9% during the second quarter. Squarepoint Ops LLC now owns 137,792 shares of the financial services provider’s stock valued at $5,024,000 after purchasing an additional 99,189 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

Trustmark Company Profile

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.