Trustmark (NASDAQ:TRMK) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Trustmark (NASDAQ:TRMK) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02, Yahoo Finance reports. Trustmark had a return on equity of 9.32% and a net margin of 16.24%. The business had revenue of $192.30 million during the quarter, compared to the consensus estimate of $192.77 million. During the same quarter in the prior year, the company posted $0.64 earnings per share.

Trustmark Stock Performance

Shares of TRMK stock opened at $34.44 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $32.55 and a 200 day moving average of $30.88. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.40 and a beta of 0.73. Trustmark has a 52 week low of $18.96 and a 52 week high of $35.75.

Trustmark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.67%. Trustmark’s dividend payout ratio (DPR) is presently 35.80%.

Analyst Ratings Changes

Several brokerages recently issued reports on TRMK. StockNews.com downgraded Trustmark from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Truist Financial dropped their price objective on shares of Trustmark from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Finally, DA Davidson increased their target price on shares of Trustmark from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.50.

About Trustmark

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.