TrustCo Bank Corp NY (TRST) Announces Quarterly Earnings Results

TrustCo Bank Corp NY (NASDAQ:TRST) announced its quarterly earnings results on Monday. The bank reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01, reports. TrustCo Bank Corp NY had a net margin of 25.16% and a return on equity of 10.51%. During the same period in the prior year, the business posted $0.11 earnings per share.

TrustCo Bank Corp NY (NASDAQ TRST) traded up $0.05 during midday trading on Monday, hitting $9.20. 184,368 shares of the stock were exchanged, compared to its average volume of 379,464. TrustCo Bank Corp NY has a 52 week low of $7.25 and a 52 week high of $9.70. The company has a market cap of $879.33, a P/E ratio of 18.78 and a beta of 1.19.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a dividend of $65625.00 per share. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $262,500.00 dividend on an annualized basis and a dividend yield of 2,853,260.87%. The ex-dividend date of this dividend was Thursday, November 30th. TrustCo Bank Corp NY’s payout ratio is currently 53.06%.

A number of analysts have recently issued reports on the stock. Sandler O’Neill set a $10.00 price objective on shares of TrustCo Bank Corp NY and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Canaccord Genuity reaffirmed a “speculative buy” rating and set a $7.25 price objective on shares of TrustCo Bank Corp NY in a report on Wednesday, October 18th. Finally, BidaskClub downgraded shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Thursday, December 7th.

In other news, Director William D. Powers sold 5,000 shares of TrustCo Bank Corp NY stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.52, for a total transaction of $47,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.

Earnings History for TrustCo Bank Corp NY (NASDAQ:TRST)

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