TrustCo Bank Corp NY (TRST) To Go Ex-Dividend on June 6th

TrustCo Bank Corp NY (NASDAQ:TRST) declared a quarterly dividend on Tuesday, May 20th, RTT News reports. Stockholders of record on Friday, June 6th will be paid a dividend of 0.36 per share by the bank on Tuesday, July 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, June 6th.

TrustCo Bank Corp NY has raised its dividend by an average of 1.6% per year over the last three years.

TrustCo Bank Corp NY Price Performance

TRST stock opened at $31.40 on Wednesday. The business has a 50-day moving average price of $30.31 and a 200 day moving average price of $32.26. TrustCo Bank Corp NY has a 1-year low of $26.14 and a 1-year high of $38.89. The company has a market capitalization of $597.23 million, a P/E ratio of 12.22 and a beta of 0.64.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%. The company had revenue of $45.35 million for the quarter, compared to the consensus estimate of $44.99 million.

Institutional Trading of TrustCo Bank Corp NY

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its position in shares of TrustCo Bank Corp NY by 49.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock valued at $128,000 after acquiring an additional 1,380 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TrustCo Bank Corp NY by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock worth $336,000 after purchasing an additional 468 shares during the period. Jane Street Group LLC purchased a new stake in TrustCo Bank Corp NY in the first quarter valued at approximately $560,000. Finally, Intech Investment Management LLC boosted its position in TrustCo Bank Corp NY by 374.2% in the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock valued at $1,604,000 after buying an additional 41,540 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY announced that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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 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.