Trustmark (NASDAQ:TRMK) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Trustmark (NASDAQ:TRMK) posted its earnings results on Tuesday. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08, Briefing.com reports. The company had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. Trustmark had a net margin of 15.06% and a return on equity of 10.77%. During the same quarter in the prior year, the company posted $0.82 earnings per share.

Trustmark Stock Performance

Shares of TRMK stock traded up $1.42 during mid-day trading on Wednesday, reaching $28.97. The stock had a trading volume of 162,660 shares, compared to its average volume of 270,956. The firm’s 50 day simple moving average is $26.74 and its 200 day simple moving average is $25.43. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. Trustmark has a one year low of $18.96 and a one year high of $29.84. The firm has a market cap of $1.77 billion, a PE ratio of 10.85 and a beta of 0.82.

Wall Street Analyst Weigh In

Several brokerages have commented on TRMK. Truist Financial increased their price target on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, April 1st. TheStreet raised Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods boosted their price target on Trustmark from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Trustmark in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Trustmark presently has a consensus rating of “Hold” and a consensus target price 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.