Trustmark (NASDAQ:TRMK) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Trustmark (NASDAQ:TRMK) posted its earnings results on Tuesday. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03, Briefing.com reports. The company had revenue of $283.96 million during the quarter, compared to the consensus estimate of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.66%. During the same period in the previous year, the firm posted $0.74 earnings per share.

Trustmark Stock Performance

Shares of Trustmark stock traded up $1.25 on Thursday, reaching $34.85. 79,964 shares of the company traded hands, compared to its average volume of 275,508. Trustmark has a 52 week low of $18.96 and a 52 week high of $34.97. The company has a 50 day moving average of $29.98 and a 200 day moving average of $28.35. The firm has a market capitalization of $2.13 billion, a PE ratio of 13.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, August 30th. Trustmark’s payout ratio is 35.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. DA Davidson boosted their target price on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods raised shares of Trustmark from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $36.00 in a research report on Thursday, April 25th. Truist Financial boosted their target price on shares of Trustmark from $31.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Trustmark Company Profile

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.