TrustCo Bank Corp NY (NASDAQ:TRST) Posts Earnings Results

TrustCo Bank Corp NY (NASDAQ:TRST) posted its quarterly earnings data on Wednesday. The bank reported $1.02 EPS for the quarter, Zacks reports. TrustCo Bank Corp NY had a return on equity of 9.85% and a net margin of 22.83%. The firm had revenue of $51.86 million during the quarter.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $55.47 on Friday. The firm’s 50-day moving average is $56.16 and its two-hundred day moving average is $53.43. TrustCo Bank Corp NY has a 1 year low of $36.50 and a 1 year high of $59.28. The firm has a market capitalization of $944.65 million, a PE ratio of 15.41 and a beta of 0.65.

TrustCo Bank Corp NY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.60 annualized dividend and a yield of 2.9%. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded TrustCo Bank Corp NY from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, TrustCo Bank Corp NY presently has a consensus 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.