TrustCo Bank Corp NY (NASDAQ:TRST) Issues Quarterly Earnings Results

TrustCo Bank Corp NY (NASDAQ:TRST) posted its quarterly earnings data on Monday. The bank reported $0.75 earnings per share for the quarter, Zacks reports. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY Price Performance

TRST stock traded down $0.09 on Monday, reaching $28.43. 104,377 shares of the company traded hands, compared to its average volume of 91,859. The firm has a fifty day simple moving average of $30.68 and a 200-day simple moving average of $32.88. The company has a market cap of $540.74 million, a P/E ratio of 11.06 and a beta of 0.71. TrustCo Bank Corp NY has a one year low of $26.14 and a one year high of $38.89.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 56.03%.

TrustCo Bank Corp NY announced that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

About TrustCo Bank Corp NY

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.