Trustmark (NASDAQ:TRMK) Posts Earnings Results, Hits Expectations

Trustmark (NASDAQ:TRMK) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00, FiscalAI reports. The company had revenue of $212.26 million during the quarter, compared to analyst estimates of $215.04 million. Trustmark had a return on equity of 10.69% and a net margin of 20.75%.

Trustmark Stock Down 0.2%

Shares of NASDAQ TRMK traded down $0.10 on Tuesday, hitting $46.12. The company had a trading volume of 324,112 shares, compared to its average volume of 394,309. Trustmark has a 12-month low of $36.41 and a 12-month high of $49.00. The business has a 50 day moving average of $45.90 and a two-hundred day moving average of $44.63. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.68 billion, a P/E ratio of 11.71 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. DA Davidson boosted their target price on Trustmark from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of Trustmark from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, September 16th. Weiss Ratings raised shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 14th. Wall Street Zen upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Piper Sandler increased their price objective on shares of Trustmark from $45.50 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.38.

About Trustmark

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.