Trustmark (NASDAQ:TRMK) Announces Earnings Results

Trustmark (NASDAQ:TRMK) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09, Zacks reports. Trustmark had a return on equity of 9.48% and a net margin of 17.62%.

Trustmark Price Performance

TRMK traded up $0.29 during midday trading on Tuesday, hitting $36.52. The stock had a trading volume of 365,999 shares, compared to its average volume of 299,234. The business has a fifty day moving average of $36.56 and a 200 day moving average of $34.53. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The company has a market cap of $2.23 billion, a P/E ratio of 11.03 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.87.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. DA Davidson raised their target price on Trustmark from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Hovde Group boosted their target price on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Janney Montgomery Scott began coverage on shares of Trustmark in a report on Friday. They issued a “buy” rating and a $42.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.33.

Insider Transactions at Trustmark

In other news, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total value of $1,049,507.68. Following the completion of the sale, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. This trade represents a 49.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $35.89, for a total value of $28,353.10. Following the completion of the transaction, the director now directly owns 7,334 shares of the company’s stock, valued at $263,217.26. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,206 shares of company stock worth $1,347,991. Company insiders own 1.50% of the company’s stock.

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.