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

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

Trustmark Stock Up 1.0 %

Shares of NASDAQ TRMK opened at $37.74 on Thursday. 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 one year low of $25.24 and a one year high of $40.73. The firm’s 50 day simple moving average is $36.53 and its two-hundred day simple moving average is $34.58. The stock has a market capitalization of $2.31 billion, a P/E ratio of 11.37 and a beta of 0.76.

Trustmark Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.24 dividend. This is a boost from Trustmark’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, February 28th. Trustmark’s dividend payout ratio is presently 27.79%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Gerard R. Host sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $38.59, for a total value of $270,130.00. Following the sale, the director now directly owns 16,500 shares of the company’s stock, valued at $636,735. This trade represents a 29.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate 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.