TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) posted its earnings results on Wednesday. The bank reported $1.02 earnings per share for the quarter, Zacks reports. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%. The firm had revenue of $51.86 million for the quarter.
TrustCo Bank Corp NY Trading Down 1.0%
Shares of NASDAQ TRST opened at $54.19 on Thursday. TrustCo Bank Corp NY has a 12 month low of $36.40 and a 12 month high of $59.28. The stock has a 50 day moving average of $56.19 and a 200-day moving average of $53.35. The company has a market capitalization of $922.75 million, a P/E ratio of 15.05 and a beta of 0.65.
TrustCo Bank Corp NY Increases Dividend
The company 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 is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 4th. TrustCo Bank Corp NY’s dividend payout ratio is 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 report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, TrustCo Bank Corp NY currently has an average 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.
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