TrustCo Bank Corp NY (NASDAQ:TRST) Issues Earnings Results

by · The Markets Daily

TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) released its quarterly earnings data on Wednesday. The bank reported $1.02 EPS for the quarter, Zacks reports. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST traded down $0.54 during trading hours on Wednesday, hitting $54.19. The stock had a trading volume of 94,869 shares, compared to its average volume of 120,427. TrustCo Bank Corp NY has a one year low of $36.40 and a one year high of $59.28. The company has a market cap of $922.86 million, a price-to-earnings ratio of 15.05 and a beta of 0.65. The business’s 50 day moving average is $56.23 and its 200-day moving average is $53.28.

TrustCo Bank Corp NY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were issued a dividend of $0.40 per share. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 4th. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded TrustCo Bank Corp NY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

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TrustCo Bank Corp NY Company Profile

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TrustCo Bank Corp NY is the holding company for Trustco Bank, a community-focused savings bank headquartered in Glenville, New York. Founded in 1902, the company provides banking and financial services to individuals, families, and businesses through a network of branches and digital banking channels.

Trustco Bank’s products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, home equity loans and lines of credit, and commercial real estate financing.

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