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

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

TrustCo Bank Corp NY stock opened at $7.08 on Friday. The business has a 50 day moving average of $6.74 and a 200-day moving average of $6.05. TrustCo Bank Corp NY has a 1 year low of $4.30 and a 1 year high of $8.23. The company has a market capitalization of $682.75 million, a P/E ratio of 12.87 and a beta of 1.20.

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The company 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 of this dividend was Thursday, December 3rd. TrustCo Bank Corp NY’s dividend payout ratio is currently 45.00%.

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

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

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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