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

Trustmark (NASDAQ:TRMK) posted its earnings results on Tuesday. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06, FiscalAI reports. Trustmark had a net margin of 19.95% and a return on equity of 10.83%. The firm had revenue of $209.44 million during the quarter, compared to analyst estimates of $207.05 million. During the same period in the previous year, the business posted $0.92 EPS.

Trustmark Stock Up 2.4%

Shares of TRMK stock opened at $42.11 on Thursday. Trustmark has a 1 year low of $29.77 and a 1 year high of $43.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.88. The business’s fifty day moving average is $40.09 and its 200-day moving average is $39.25. The stock has a market cap of $2.52 billion, a PE ratio of 11.51 and a beta of 0.69.

Trustmark Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be given a dividend of $0.25 per share. This is a boost from Trustmark’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Trustmark’s payout ratio is 26.23%.

Institutional Investors Weigh In On Trustmark

Several hedge funds and other institutional investors have recently bought and sold shares of TRMK. California State Teachers Retirement System boosted its position in shares of Trustmark by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 53,630 shares of the financial services provider’s stock valued at $1,955,000 after purchasing an additional 313 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Trustmark by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,132 shares of the financial services provider’s stock valued at $1,280,000 after purchasing an additional 353 shares during the last quarter. Swiss National Bank boosted its holdings in Trustmark by 0.9% during the third quarter. Swiss National Bank now owns 111,300 shares of the financial services provider’s stock worth $4,407,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 1,022 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Trustmark by 2.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 50,892 shares of the financial services provider’s stock worth $2,023,000 after buying an additional 1,360 shares during the last quarter. 67.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Trustmark in a research report on Wednesday, January 21st. Wall Street Zen lowered Trustmark from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Hovde Group increased their price target on Trustmark from $42.00 to $44.50 and gave the stock a “market perform” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Trustmark currently has an average rating of “Hold” and an average price target of $43.50.

Trustmark Company Profile

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.