TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) announced that its board has authorized a share buyback program on Tuesday, March 18th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
TrustCo Bank Corp NY Stock Performance
NASDAQ:TRST traded down $0.36 during trading hours on Friday, hitting $30.31. The stock had a trading volume of 230,425 shares, compared to its average volume of 77,522. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $38.89. The company has a market cap of $576.50 million, a price-to-earnings ratio of 11.79 and a beta of 0.80. The business's 50 day moving average is $32.06 and its 200-day moving average is $33.48.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $0.59 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.
TrustCo Bank Corp NY Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 56.03%.
TrustCo Bank Corp NY Company Profile
(
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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.
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