TrustCo Bank Corp NY (NASDAQ:TRST) Posts Quarterly Earnings Results, Hits Expectations

TrustCo Bank Corp NY (NASDAQ:TRST) posted its earnings results on Wednesday. The bank reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14, MarketWatch Earnings reports. TrustCo Bank Corp NY had a return on equity of 9.55% and a net margin of 26.28%.

TRST stock opened at $7.08 on Friday. The company’s 50 day moving average price is $6.74 and its 200 day moving average price is $6.05. The firm has a market capitalization of $682.75 million, a price-to-earnings ratio of 12.87 and a beta of 1.20. TrustCo Bank Corp NY has a fifty-two week low of $4.30 and a fifty-two week high of $8.23.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Friday, December 4th were paid a $0.068 dividend. This represents a $0.27 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Thursday, December 3rd. TrustCo Bank Corp NY’s payout ratio is presently 45.00%.

In other TrustCo Bank Corp NY news, Director Frank B. Silverman purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, November 17th. The stock was bought at an average cost of $6.21 per share, with a total value of $31,050.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $93,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert M. Leonard acquired 7,252 shares of the stock in a transaction dated Friday, November 27th. The shares were acquired at an average cost of $6.21 per share, with a total value of $45,034.92. Following the completion of the transaction, the executive vice president now owns 110,024 shares in the company, valued at approximately $683,249.04. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,285 shares of company stock valued at $107,028 in the last quarter. 2.69% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on TRST shares. Piper Sandler cut their price objective on TrustCo Bank Corp NY from $7.00 to $6.50 and set an “overweight” rating for the company in a research report on Monday, September 28th. Zacks Investment Research raised shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research note on Thursday, December 17th. Finally, TheStreet upgraded shares of TrustCo Bank Corp NY from a “c” rating to a “b-” rating in a report on Friday, November 27th.

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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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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