Trustmark (NASDAQ:TRMK) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Trustmark (NASDAQ:TRMK) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09, Zacks reports. Trustmark had a return on equity of 9.48% and a net margin of 17.62%.

Trustmark Price Performance

Shares of NASDAQ TRMK traded up $0.29 during midday trading on Tuesday, hitting $36.52. 365,999 shares of the company’s stock were exchanged, compared to its average volume of 299,234. The business’s fifty day moving average price is $36.56 and its two-hundred day moving average price is $34.53. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 11.03 and a beta of 0.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. Trustmark has a 12-month low of $25.24 and a 12-month high of $40.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Janney Montgomery Scott began coverage on Trustmark in a research report on Friday. They set a “buy” rating and a $42.00 price target on the stock. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial lifted their target price on shares of Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Hovde Group raised their price objective on shares of Trustmark from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, DA Davidson boosted their target price on shares of Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.33.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Gerard R. Host sold 26,416 shares of Trustmark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.73, for a total value of $1,049,507.68. Following the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at $1,064,446.16. The trade was a 49.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marcelo L. Eduardo sold 790 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total value of $28,353.10. Following the sale, the director now directly owns 7,334 shares of the company’s stock, valued at approximately $263,217.26. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,206 shares of company stock worth $1,347,991 over the last three months. 1.50% of the stock is owned by insiders.

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.