Trustmark Q3 revenue, net interest income rise
Trustmark Q3 revenue, net interest income rise
Overview
U.S. regional bank reported Q3 net income of $58.1 mln and EPS of $1.00
Q3 revenue rose 2.4% yr/yr; net interest income up 3.2% yr/yr
Company completed branch sale-leaseback and restructured securities portfolio, offsetting gains and losses
Outlook
Company expects recent strategic actions to enhance future earnings capacity
Result Drivers
NET INTEREST INCOME - Net interest income grew 3.2% yr/yr, supporting Q3 earnings
CREDIT QUALITY - Co said strong credit quality contributed to results
LOANS HELD FOR INVESTMENT - Increased $321.0 mln or 2.4% yr/yr, despite elevated payoff activity and a highly competitive lending environment
Company press release: ID:nBw7k3lTXa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| $1 |
|
Q3 Net Income |
| $58.1 mln |
|
Q3 Net Interest Income |
| $170.57 mln |
|
Q3 Dividend |
| $0.25 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "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 Corporation is $50.00, about 8.2% above its October 26 closing price of $46.22
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Oct 27 - NBT Bancorp Q3 profit rises on loan growth, higher net interest income
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Oct 27 - Western New England Bancorp Q3 profit nearly doubles on higher net interest income
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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.)