Trustmark (NASDAQ:TRMK) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Trustmark (NASDAQ:TRMKGet Rating) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.14), reports. The firm had revenue of $225.13 million for the quarter, compared to the consensus estimate of $196.87 million. Trustmark had a return on equity of 8.17% and a net margin of 19.12%. During the same period in the prior year, the company posted $0.42 earnings per share.

Trustmark Price Performance

TRMK stock traded down $3.52 during midday trading on Wednesday, reaching $29.50. The company had a trading volume of 276,564 shares, compared to its average volume of 275,248. The stock has a 50 day moving average price of $34.95 and a 200-day moving average price of $33.57. Trustmark has a 1-year low of $26.67 and a 1-year high of $38.47. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.79.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Hovde Group increased their price objective on shares of Trustmark to $38.00 in a research note on Tuesday, November 1st. began coverage on shares of Trustmark in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, DA Davidson assumed coverage on shares of Trustmark in a report on Monday, January 9th. They set a “neutral” rating and a $38.00 target price on the stock.

Hedge Funds Weigh In On Trustmark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its position in shares of Trustmark by 351.1% during the 2nd quarter. Captrust Financial Advisors now owns 5,945 shares of the financial services provider’s stock worth $174,000 after buying an additional 4,627 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Trustmark during the 2nd quarter worth $272,000. Advisor Group Holdings Inc. raised its stake in shares of Trustmark by 5.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 9,552 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 514 shares during the period. AQR Capital Management LLC raised its stake in shares of Trustmark by 23.4% during the 2nd quarter. AQR Capital Management LLC now owns 10,850 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 2,059 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in Trustmark in the 2nd quarter valued at about $342,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Trustmark Company Profile

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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.

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Earnings History for Trustmark (NASDAQ:TRMK)

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