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

TrustCo Bank Corp NY (NASDAQ:TRST) released its quarterly earnings results on Monday. The bank reported $0.75 EPS for the quarter, Zacks reports. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Price Performance

TRST traded down $0.09 during trading on Monday, reaching $28.43. 104,377 shares of the stock were exchanged, compared to its average volume of 85,841. TrustCo Bank Corp NY has a 1 year low of $26.14 and a 1 year high of $38.89. The company has a market capitalization of $540.74 million, a price-to-earnings ratio of 11.06 and a beta of 0.71. The business’s 50 day moving average price is $30.68 and its two-hundred day moving average price is $32.88.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 56.03%.

TrustCo Bank Corp NY declared that its board has authorized a stock repurchase plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals and businesses. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.