TrustCo Bank Corp NY (NASDAQ:TRST) Announces Quarterly Earnings Results

TrustCo Bank Corp NY (NASDAQ:TRST) announced its earnings results on Wednesday. The bank reported $1.02 EPS for the quarter, Zacks reports. The company had revenue of $51.86 million during the quarter. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ:TRST traded down $0.54 during trading on Wednesday, hitting $54.19. The company’s stock had a trading volume of 94,869 shares, compared to its average volume of 120,611. TrustCo Bank Corp NY has a fifty-two week low of $36.40 and a fifty-two week high of $59.28. The business has a 50 day moving average price of $56.23 and a two-hundred day moving average price of $53.28. The company has a market capitalization of $922.86 million, a PE ratio of 15.05 and a beta of 0.65.

TrustCo Bank Corp NY Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, September 4th. TrustCo Bank Corp NY’s payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of TrustCo Bank Corp NY from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is the holding company for Trustco Bank, a community-focused savings bank headquartered in Glenville, New York. Founded in 1902, the company provides banking and financial services to individuals, families, and businesses through a network of branches and digital banking channels.

Trustco Bank’s products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, home equity loans and lines of credit, and commercial real estate financing.