Trustmark (NASDAQ:TRMK) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Trustmark (NASDAQ:TRMK) posted its earnings results on Tuesday. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.08, Briefing.com reports. Trustmark had a net margin of 13.82% and a return on equity of 10.16%. The firm had revenue of $288.55 million during the quarter, compared to analyst estimates of $187.03 million. During the same quarter in the prior year, the business posted $0.82 EPS.

Trustmark Price Performance

Shares of NASDAQ:TRMK opened at $29.36 on Thursday. 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 firm has a market capitalization of $1.80 billion, a PE ratio of 11.42 and a beta of 0.82. Trustmark has a twelve month low of $18.96 and a twelve month high of $29.84. The company has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $25.43.

Analyst Upgrades and Downgrades

TRMK has been the subject of several recent analyst reports. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods upgraded shares of Trustmark from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $36.00 in a research report on Thursday. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Trustmark in a research report on Tuesday, March 26th. Finally, Truist Financial increased their price target on shares of Trustmark from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Trustmark has an average rating of “Hold” and a consensus 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.