TrustCo Bank Corp NY (NASDAQ:TRST) Posts Earnings Results, Beats Estimates By $0.20 EPS

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) announced its quarterly earnings data on Thursday. The bank reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.20, MarketWatch Earnings reports. TrustCo Bank Corp NY had a return on equity of 10.53% and a net margin of 33.09%. During the same quarter last year, the firm posted $0.75 EPS.

TRST stock traded down $0.39 during trading on Friday, hitting $32.36. The company had a trading volume of 352 shares, compared to its average volume of 68,081. The company has a fifty day moving average price of $32.74 and a two-hundred day moving average price of $33.29. The company has a market cap of $621.38 million, a P/E ratio of 10.17 and a beta of 1.04. TrustCo Bank Corp NY has a fifty-two week low of $29.78 and a fifty-two week high of $41.47.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 4th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.33%. The ex-dividend date was Thursday, March 3rd. TrustCo Bank Corp NY’s dividend payout ratio is 43.48%.

TRST has been the topic of several recent research reports. Zacks Investment Research raised TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, February 15th. StockNews.com initiated coverage on TrustCo Bank Corp NY in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other TrustCo Bank Corp NY news, EVP Kevin M. Curley acquired 1,000 shares of TrustCo Bank Corp NY stock in a transaction on Wednesday, February 23rd. The shares were bought at an average price of $33.99 per share, with a total value of $33,990.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in TrustCo Bank Corp NY in the third quarter worth $127,000. Royal Bank of Canada boosted its stake in TrustCo Bank Corp NY by 41.2% in the third quarter. Royal Bank of Canada now owns 5,457 shares of the bank’s stock worth $175,000 after purchasing an additional 1,592 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in TrustCo Bank Corp NY in the fourth quarter worth $333,000. Deutsche Bank AG boosted its stake in TrustCo Bank Corp NY by 5.6% in the fourth quarter. Deutsche Bank AG now owns 11,474 shares of the bank’s stock worth $382,000 after purchasing an additional 610 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of TrustCo Bank Corp NY by 148.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,423 shares of the bank’s stock worth $480,000 after acquiring an additional 8,626 shares during the last quarter. 64.59% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Company Profile (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.

See Also

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

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