Trustmark (NASDAQ:TRMK) Releases Earnings Results

Key Points

• Trustmark met earnings expectations, reporting quarterly EPS of $1.00, while revenue of $212.26 million fell short of the $215.04 million analyst consensus.
• Shares traded slightly lower at $46.12, with Trustmark reporting a 20.75% net margin and a 10.69% return on equity; the stock remains near its 52-week high of $49.00.
• Analysts generally maintain a positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $47.38 after several firms raised their targets.

Trustmark (NASDAQ:TRMK - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.00 earnings per share for the quarter, meeting analysts' consensus estimates of $1.00, FiscalAI reports. The business had revenue of $212.26 million for the quarter, compared to analyst estimates of $215.04 million. Trustmark had a net margin of 20.75% and a return on equity of 10.69%.

Trustmark Price Performance

Trustmark stock traded down $0.10 during midday trading on Tuesday, reaching $46.12. The company's stock had a trading volume of 324,112 shares, compared to its average volume of 394,309. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.89. Trustmark has a fifty-two week low of $36.41 and a fifty-two week high of $49.00. The firm has a market capitalization of $2.68 billion, a PE ratio of 11.71 and a beta of 0.66. The stock's 50 day simple moving average is $45.90 and its 200 day simple moving average is $44.63.

Analysts Set New Price Targets

Several equities analysts recently commented on TRMK shares. Piper Sandler increased their target price on Trustmark from $45.50 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. DA Davidson raised their price objective on shares of Trustmark from $46.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Trustmark from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 16th. Weiss Ratings upgraded shares of Trustmark from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Trustmark from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Trustmark currently has an average rating of "Moderate Buy" and an average price target of $47.38.

Trustmark Company Profile

Trustmark Corporation NASDAQ: TRMK is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark's banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.

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