Trustmark (NASDAQ:TRMK) Posts Quarterly Earnings Results, Hits Expectations

Trustmark (NASDAQ:TRMK) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.00, FiscalAI reports. The business had revenue of $212.26 million for the quarter, compared to analyst estimates of $215.04 million. Trustmark’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS.

Trustmark Stock Down 0.2%

Shares of NASDAQ TRMK opened at $46.12 on Wednesday. Trustmark has a 52-week low of $36.41 and a 52-week high of $49.00. The firm has a fifty day moving average of $45.86 and a 200-day moving average of $44.66. The stock has a market capitalization of $2.68 billion, a PE ratio of 11.71 and a beta of 0.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TRMK shares. Wall Street Zen upgraded Trustmark from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. DA Davidson lifted their price target on Trustmark from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target on Trustmark from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, September 16th. Piper Sandler upped their price objective on shares of Trustmark from $45.50 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Trustmark from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.38.

About Trustmark

Trustmark Corporation (NASDAQ: TRMK) is a financial services company headquartered in Jackson, Mississippi. Through its principal subsidiary, Trustmark National Bank, the company provides banking, wealth management and insurance services to individuals, businesses and institutional clients.

Trustmark’s banking activities include deposit accounts, consumer and commercial lending, mortgages, treasury management and other financial services. Its wealth management business offers trust, investment management, financial planning and related services, while its insurance operations provide personal and commercial insurance products.

Founded in 1889, Trustmark serves customers through banking and financial services operations in Mississippi, Alabama, Florida, Tennessee and Texas.