Trustmark (NASDAQ:TRMK) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Trustmark (NASDAQ:TRMK) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03, Briefing.com reports. The firm had revenue of $283.96 million during the quarter, compared to analyst estimates of $229.83 million. Trustmark had a net margin of 16.24% and a return on equity of 9.66%. During the same quarter last year, the business posted $0.74 EPS.

Trustmark Stock Performance

NASDAQ TRMK traded up $0.70 on Thursday, hitting $34.30. 468,306 shares of the company traded hands, compared to its average volume of 278,242. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.55 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $29.98 and its 200-day moving average price is $28.35. Trustmark has a 52-week low of $18.96 and a 52-week high of $35.13.

Trustmark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.68%. Trustmark’s dividend payout ratio is currently 35.80%.

Wall Street Analyst Weigh In

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

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.