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/Mis Actual Consensu

s s

Estimate

Q3 Miss $202.40 $205.90

Revenue mln mln (5

Analysts

)

Q3 EPS $0.94

Q3 Net $56.80

Income mln

Q3 Net $165.20

Interest mln

Income

Q3 $0.24

Dividend

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 ( TRMK ) 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:

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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.)