TrustCo Bank Corp NY (NASDAQ:TRST) Releases Earnings Results, Beats Expectations By $0.13 EPS

TrustCo Bank Corp NY (NASDAQ:TRST) issued its quarterly earnings results on Monday. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13, Yahoo Finance reports. The company had revenue of $66.24 million for the quarter, compared to analyst estimates of $40.94 million. TrustCo Bank Corp NY had a return on equity of 7.69% and a net margin of 19.22%. During the same period in the previous year, the company posted $0.86 earnings per share.

TrustCo Bank Corp NY Stock Performance

TRST traded down $0.80 on Wednesday, hitting $33.92. 84,722 shares of the company were exchanged, compared to its average volume of 78,524. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $34.96. The company has a market cap of $645.16 million, a PE ratio of 12.19 and a beta of 0.83. The stock’s fifty day moving average is $28.63 and its 200-day moving average is $28.13.

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 4.25%. TrustCo Bank Corp NY’s payout ratio is presently 51.61%.

Analysts Set New Price Targets

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

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.