TrustCo Bank Corp NY (NASDAQ:TRST) Plans Quarterly Dividend of $0.36

Posted by Andrew Walz on Aug 21st, 2024

TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) announced a quarterly dividend on Tuesday, August 20th, NASDAQ reports. Shareholders of record on Friday, September 6th will be given a dividend of 0.36 per share by the bank on Tuesday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, September 6th.

TrustCo Bank Corp NY has raised its dividend by an average of 1.9% annually over the last three years. TrustCo Bank Corp NY has a payout ratio of 50.2% meaning its dividend is sufficiently covered by earnings.

TrustCo Bank Corp NY Price Performance

Shares of TRST traded up $0.32 during midday trading on Wednesday, reaching $33.11. The stock had a trading volume of 105,816 shares, compared to its average volume of 79,232. TrustCo Bank Corp NY has a 52 week low of $23.78 and a 52 week high of $36.51. The company has a market capitalization of $629.42 million, a P/E ratio of 11.87 and a beta of 0.83. The firm’s 50 day moving average price is $30.78 and its 200-day moving average price is $28.68.

TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. TrustCo Bank Corp NY had a return on equity of 7.65% and a net margin of 19.22%. The business had revenue of $66.24 million during the quarter, compared to analyst estimates of $40.94 million. During the same period last year, the company posted $0.86 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research report on Monday, June 17th.

Read Our Latest Analysis on TrustCo Bank Corp NY

TrustCo Bank Corp NY Company Profile

(Get Free Report)

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.