Trustmark (NASDAQ:TRMK) Announces Earnings Results

Trustmark (NASDAQ:TRMK - Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.09, Zacks reports. Trustmark had a return on equity of 10.27% and a net margin of 19.42%.

Trustmark Stock Performance

Trustmark stock traded up $0.14 during mid-day trading on Friday, reaching $37.54. 185,865 shares of the company's stock were exchanged, compared to its average volume of 312,619. The firm has a market capitalization of $2.30 billion, a PE ratio of 10.31 and a beta of 0.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business's fifty day simple moving average is $36.51 and its 200 day simple moving average is $34.60. Trustmark has a one year low of $25.24 and a one year high of $40.73.

Trustmark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Trustmark's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 28th. Trustmark's dividend payout ratio (DPR) is presently 25.27%.

Insider Activity

In other news, Director Gerard R. Host sold 26,416 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the sale, the director now owns 26,792 shares in the company, valued at $1,064,446.16. This trade represents a 49.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRMK. StockNews.com raised shares of Trustmark from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Hovde Group raised their price target on shares of Trustmark from $34.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. DA Davidson boosted their price objective on Trustmark from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday. Janney Montgomery Scott began coverage on Trustmark in a report on Friday, January 24th. They issued a "buy" rating and a $42.00 target price on the stock. Finally, Truist Financial lifted their target price on Trustmark from $35.00 to $36.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Five 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 currently has an average rating of "Hold" and an average price target of $36.83.

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.