TrustCo Bank Corp NY (TRST) to Release Earnings on Monday

TrustCo Bank Corp NY (NASDAQ:TRST) will be posting its quarterly earnings results after the market closes on Monday, April 22nd. Analysts expect TrustCo Bank Corp NY to post earnings of $0.60 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.14). TrustCo Bank Corp NY had a return on equity of 9.36% and a net margin of 23.98%. The firm had revenue of $63.11 million during the quarter, compared to the consensus estimate of $44.90 million. During the same quarter in the prior year, the business posted $1.10 EPS. 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.

TrustCo Bank Corp NY Stock Performance

Shares of TrustCo Bank Corp NY stock opened at $26.25 on Monday. TrustCo Bank Corp NY has a 52-week low of $23.78 and a 52-week high of $32.10. The stock has a market capitalization of $499.38 million, a price-to-earnings ratio of 8.52 and a beta of 0.84. The company’s 50 day moving average price is $27.44 and its 200-day moving average price is $28.08.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio is 46.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd.

Insider Buying and Selling

In other TrustCo Bank Corp NY news, EVP Eric W. Schreck purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $28.44 per share, with a total value of $28,440.00. Following the completion of the purchase, the executive vice president now directly owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other TrustCo Bank Corp NY news, EVP Eric W. Schreck purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $28.44 per share, with a total value of $28,440.00. Following the completion of the purchase, the executive vice president now directly owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kevin M. Curley purchased 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $27.30 per share, with a total value of $25,006.80. Following the purchase, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The disclosure for this purchase can be found here. Insiders acquired 2,879 shares of company stock valued at $80,023 over the last quarter. 3.26% of the stock is owned by company insiders.

Institutional Trading of TrustCo Bank Corp NY

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in TrustCo Bank Corp NY during the first quarter valued at $30,000. Lazard Asset Management LLC purchased a new position in TrustCo Bank Corp NY during the first quarter valued at $34,000. Captrust Financial Advisors lifted its position in TrustCo Bank Corp NY by 104.4% during the first quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock valued at $36,000 after buying an additional 569 shares during the period. FMR LLC lifted its position in TrustCo Bank Corp NY by 49.2% during the first quarter. FMR LLC now owns 1,216 shares of the bank’s stock valued at $39,000 after buying an additional 401 shares during the period. Finally, Clear Street Markets LLC purchased a new position in TrustCo Bank Corp NY during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

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.