TrustCo Bank Corp NY (NASDAQ:TRST) Posts Earnings Results, Beats Estimates By $0.06 EPS

TrustCo Bank Corp NY (NASDAQ:TRST) issued its quarterly earnings results on Tuesday. The bank reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.06, MarketWatch Earnings reports. TrustCo Bank Corp NY had a net margin of 27.95% and a return on equity of 9.45%.

NASDAQ TRST traded down $1.03 during trading on Thursday, hitting $32.86. 2,186 shares of the company’s stock traded hands, compared to its average volume of 79,957. The stock has a market capitalization of $633.87 million, a PE ratio of 12.10 and a beta of 1.19. TrustCo Bank Corp NY has a 12-month low of $25.25 and a 12-month high of $41.47. The business’s 50 day simple moving average is $29.08.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Friday, June 4th were issued a dividend of $0.068 per share. This represents a $0.27 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, June 3rd. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 50.37%.

Separately, Zacks Investment Research downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Thursday, July 1st.

About TrustCo Bank Corp NY

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, partnerships, and corporations. 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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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

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