TrustCo Bank Corp NY (TRST) Scheduled to Post Quarterly Earnings on Thursday

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) will be issuing its quarterly earnings data after the market closes on Thursday, April 21st. Analysts expect the company to announce earnings of $0.69 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last posted its earnings results on Monday, January 24th. The bank reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. TrustCo Bank Corp NY had a return on equity of 10.53% and a net margin of 33.09%. The company had revenue of $44.82 million for the quarter, compared to analyst estimates of $44.09 million. On average, analysts expect TrustCo Bank Corp NY to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ:TRST opened at $31.11 on Tuesday. The firm has a fifty day moving average of $32.86. TrustCo Bank Corp NY has a 52-week low of $29.78 and a 52-week high of $41.47. The stock has a market capitalization of $597.37 million, a P/E ratio of 9.66 and a beta of 1.04.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 4th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 4.50%. TrustCo Bank Corp NY’s payout ratio is currently 43.48%.

A number of brokerages have recently weighed in on TRST. StockNews.com started coverage on TrustCo Bank Corp NY in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, February 15th.

In related news, EVP Kevin M. Curley bought 1,000 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The stock was acquired at an average cost of $33.99 per share, with a total value of $33,990.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.10% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY by 42.2% in the 4th quarter. JPMorgan Chase & Co. now owns 127,971 shares of the bank’s stock valued at $4,264,000 after purchasing an additional 37,975 shares during the period. State Street Corp boosted its holdings in shares of TrustCo Bank Corp NY by 5.1% during the fourth quarter. State Street Corp now owns 691,903 shares of the bank’s stock worth $23,284,000 after acquiring an additional 33,308 shares during the period. Millennium Management LLC boosted its holdings in shares of TrustCo Bank Corp NY by 84.8% during the third quarter. Millennium Management LLC now owns 67,373 shares of the bank’s stock worth $2,154,000 after acquiring an additional 30,923 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of TrustCo Bank Corp NY in the third quarter valued at approximately $127,000. Finally, Citadel Advisors LLC raised its position in TrustCo Bank Corp NY by 175.8% during the third quarter. Citadel Advisors LLC now owns 36,978 shares of the bank’s stock valued at $1,182,000 after purchasing an additional 23,569 shares in the last quarter. 64.59% of the stock is currently owned by institutional investors and hedge funds.

About TrustCo Bank Corp NY (Get Rating)

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, partnerships, and corporations. 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.

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

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