TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) released its quarterly earnings data on Monday. The bank reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.10, Zacks reports. The firm had revenue of $45.35 million for the quarter, compared to analyst estimates of $44.99 million. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.
TrustCo Bank Corp NY Stock Performance
NASDAQ TRST traded up $0.11 on Thursday, reaching $30.51. 21,817 shares of the company's stock traded hands, compared to its average volume of 92,486. The stock has a 50 day moving average price of $30.44 and a 200-day moving average price of $32.82. The firm has a market cap of $580.21 million, a price-to-earnings ratio of 11.87 and a beta of 0.71. TrustCo Bank Corp NY has a fifty-two week low of $26.14 and a fifty-two week high of $38.89.
TrustCo Bank Corp NY Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.72%. TrustCo Bank Corp NY's dividend payout ratio is presently 56.03%.
TrustCo Bank Corp NY declared that its board has initiated a share repurchase plan on Tuesday, March 18th that allows the company to buyback 0 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.
TrustCo Bank Corp NY Company Profile
(
Get Free Report)
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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