Trustmark (NASDAQ:TRMK) Posts Earnings Results, Beats Estimates By $0.09 EPS

Trustmark (NASDAQ:TRMK) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.92 earnings per share for the quarter, topping 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 Stock Up 0.8 %

NASDAQ TRMK traded up $0.29 during mid-day trading on Tuesday, reaching $36.52. The stock had a trading volume of 365,999 shares, compared to its average volume of 299,234. The company has a fifty day moving average price of $36.56 and a 200 day moving average price of $34.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73. The stock has a market cap of $2.23 billion, a PE ratio of 11.03 and a beta of 0.76.

Insiders Place Their Bets

In related news, 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 transaction of $28,353.10. Following the transaction, the director now owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Host sold 7,000 shares of Trustmark stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $38.59, for a total transaction of $270,130.00. Following the completion of the sale, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $636,735. This trade represents a 29.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,206 shares of company stock valued at $1,347,991. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.