TrustCo Bank Corp NY (NASDAQ:TRST) Declares Quarterly Dividend of $0.38

Key Points

• TrustCo Bank Corp NY has announced an increase in its quarterly dividend to $0.38 per share, representing a 5.6% increase from the previous dividend of $0.36.
• The dividend will be paid on October 1st to investors of record as of September 5th, which results in an annualized dividend yield of 4.3%.
• Despite the dividend increase, the stock price recently dipped 0.2% to $35.36, and the company reported a net margin of 19.84% in its latest earnings report.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Friday, September 5th will be paid a dividend of 0.38 per share by the bank on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, September 5th. This is a 5.6% increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.36.

TrustCo Bank Corp NY Trading Up 5.1%

TRST stock traded up $1.84 during midday trading on Friday, hitting $37.90. 160,177 shares of the company's stock were exchanged, compared to its average volume of 102,119. The business has a 50-day simple moving average of $34.17 and a two-hundred day simple moving average of $32.11. The stock has a market capitalization of $714.42 million, a PE ratio of 13.49 and a beta of 0.70. TrustCo Bank Corp NY has a 1-year low of $27.18 and a 1-year high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. The company had revenue of $46.60 million during the quarter, compared to analysts' expectations of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Company Profile

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.