TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $30.94, but opened at $31.64. TrustCo Bank Corp NY shares last traded at $31.02, with a volume of 19,329 shares trading hands.
TrustCo Bank Corp NY Price Performance
The firm's fifty day moving average is $31.95 and its two-hundred day moving average is $33.39. The firm has a market cap of $580.11 million, a price-to-earnings ratio of 11.87 and a beta of 0.80.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Friday, March 7th. TrustCo Bank Corp NY's payout ratio is currently 56.03%.
TrustCo Bank Corp NY announced that its board has approved a share buyback program on Tuesday, March 18th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.
Institutional Trading of TrustCo Bank Corp NY
Several institutional investors have recently modified their holdings of TRST. Wilmington Savings Fund Society FSB acquired a new stake in TrustCo Bank Corp NY in the 4th quarter valued at about $29,000. Versant Capital Management Inc raised its holdings in shares of TrustCo Bank Corp NY by 263.7% in the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank's stock worth $31,000 after purchasing an additional 683 shares in the last quarter. R Squared Ltd acquired a new stake in TrustCo Bank Corp NY during the fourth quarter valued at approximately $91,000. Cubist Systematic Strategies LLC acquired a new position in TrustCo Bank Corp NY in the fourth quarter worth approximately $93,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth $120,000. Institutional investors and hedge funds own 68.57% of the company's stock.
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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