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

Trustmark (NASDAQ:TRMK) posted its earnings results on Tuesday. The financial services provider reported $0.66 earnings per share (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 for the quarter, compared to analysts’ expectations of $229.83 million. Trustmark had a return on equity of 9.66% and a net margin of 16.24%. During the same period last year, the firm earned $0.74 earnings per share.

Trustmark Stock Performance

NASDAQ:TRMK traded up $0.52 during mid-day trading on Thursday, reaching $34.12. The company’s stock had a trading volume of 601 shares, compared to its average volume of 274,949. The firm’s fifty day moving average price is $29.98 and its two-hundred day moving average price is $28.35. 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 stock has a market cap of $2.09 billion, a P/E ratio of 13.07 and a beta of 0.75. Trustmark has a 12-month low of $18.96 and a 12-month high of $34.97.

Trustmark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Analyst Ratings Changes

A number of brokerages recently commented on TRMK. DA Davidson raised their price target on Trustmark from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $36.00 in a report on Thursday, April 25th. Finally, Truist Financial dropped their price target on Trustmark from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.50.

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.