Trustmark (NASDAQ:TRMK) Releases Earnings Results, Beats Expectations By $0.06 EPS

Trustmark (NASDAQ:TRMK) released its quarterly earnings data on Tuesday. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06, FiscalAI reports. The business had revenue of $209.44 million during the quarter, compared to analysts’ expectations of $207.05 million. Trustmark had a net margin of 19.82% and a return on equity of 10.90%.

Trustmark Price Performance

NASDAQ TRMK traded up $0.23 during mid-day trading on Tuesday, hitting $41.14. The stock had a trading volume of 316,213 shares, compared to its average volume of 292,224. The company has a 50 day simple moving average of $39.92 and a 200 day simple moving average of $39.21. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 11.24 and a beta of 0.69. Trustmark has a 52-week low of $29.77 and a 52-week high of $43.29. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.33.

Institutional Investors Weigh In On Trustmark

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Trustmark by 452.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,022 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Trustmark during the second quarter worth approximately $207,000. BNP Paribas Financial Markets increased its position in Trustmark by 32.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,277 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 1,523 shares during the period. Sei Investments Co. bought a new position in shares of Trustmark in the third quarter worth $233,000. Finally, CIBC Bancorp USA Inc. bought a new position in Trustmark in the 3rd quarter valued at about $240,000. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation is a financial services holding company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides a broad spectrum of commercial and consumer banking services. Trustmark’s offerings include deposit accounts, lending solutions, cash management services, residential and commercial mortgage financing, and credit card processing.

In addition to traditional banking, Trustmark offers trust and wealth management services designed to meet the needs of high-net-worth individuals, families and institutional clients.