Trustmark (NASDAQ:TRMK) Issues Earnings Results

Trustmark (NASDAQ:TRMK) released its quarterly earnings results on Tuesday. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08, Briefing.com reports. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The company had revenue of $288.55 million for the quarter, compared to analysts’ expectations of $187.03 million. During the same period in the prior year, the firm earned $0.82 earnings per share.

Trustmark Price Performance

Trustmark stock traded up $0.13 during mid-day trading on Friday, reaching $29.95. The company had a trading volume of 53,767 shares, compared to its average volume of 281,141. Trustmark has a 1 year low of $18.96 and a 1 year high of $30.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.83 billion, a P/E ratio of 11.60 and a beta of 0.82. The stock’s 50-day simple moving average is $26.83 and its 200-day simple moving average is $25.49.

Trustmark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be given a $0.23 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.92 dividend on an annualized basis and a yield of 3.07%. Trustmark’s payout ratio is currently 35.80%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Trustmark from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $36.00 in a research report on Thursday. DA Davidson increased their target price on Trustmark from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com raised Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Truist Financial increased their target price on Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $29.00 target price on shares of Trustmark in a report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.25.

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.