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

Trustmark (NASDAQ:TRMK) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping 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 13.82% and a return on equity of 10.16%. During the same quarter in the previous year, the business posted $0.82 EPS.

Trustmark Price Performance

NASDAQ TRMK opened at $29.36 on Thursday. Trustmark has a 52 week low of $18.96 and a 52 week high of $29.84. The firm has a market capitalization of $1.80 billion, a P/E ratio of 11.42 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $26.74 and a 200-day moving average price of $25.43.

Analysts Set New Price Targets

TRMK has been the topic of a number of analyst reports. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and upped their target price for the company from $30.00 to $36.00 in a research note on Thursday. DA Davidson restated a “neutral” rating on shares of Trustmark in a research note on Monday, January 15th. Truist Financial upped their target price 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. Finally, Piper Sandler restated a “neutral” rating and set a $29.00 target price on shares of Trustmark in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.67.

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.