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TrustCo Bank Corp NY (NASDAQ:TRST) Announces Earnings Results, Beats Expectations By $0.10 EPS

TrustCo Bank Corp NY logo with Finance background

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) released its quarterly earnings results on Monday. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10, Zacks reports. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%. The business had revenue of $45.35 million during the quarter, compared to analyst estimates of $44.99 million.

TrustCo Bank Corp NY Price Performance

NASDAQ:TRST traded down $0.36 during trading hours on Friday, reaching $30.36. 78,058 shares of the company traded hands, compared to its average volume of 86,354. TrustCo Bank Corp NY has a 1-year low of $26.14 and a 1-year high of $38.89. The stock has a market cap of $577.45 million, a P/E ratio of 11.81 and a beta of 0.71. The firm's 50-day moving average is $30.33 and its 200-day moving average is $32.81.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.74%. TrustCo Bank Corp NY's dividend payout ratio is presently 53.73%.

TrustCo Bank Corp NY declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 18th that permits the company to buyback 0 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

TrustCo Bank Corp NY Company Profile

(Get Free Report)

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.

Further Reading

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

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