Overview
Trustmark Q3 revenue grew 5.3% yr/yr but missed analyst expectations
Net income for Q3 was $56.8 mln, with diluted EPS of $0.94
Company repurchased $11 mln of common shares in Q3
Outlook
Trustmark did not provide specific financial guidance for future quarters or the full year in its press release
Result Drivers
LOAN AND DEPOSIT GROWTH - Trustmark reported a 3.4% increase in loans held for investment and a 3.4% rise in deposits, reflecting diversified growth
NET INTEREST INCOME - Net interest income increased by 2.4% from the previous quarter, contributing to the overall revenue increase
CREDIT QUALITY - Provision for credit losses decreased significantly, indicating stable credit quality
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $202.40 mln | $205.90 mln (5 Analysts) |
Q3 EPS | $0.94 | ||
Q3 Net Income | $56.80 mln | ||
Q3 Net Interest Income | $165.20 mln | ||
Q3 Dividend | $0.24 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Trustmark Corp is $43.00, about 9.9% above its October 27 closing price of $38.73
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBw1Wk33pa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)