TrustCo Bank Corp NY (NASDAQ:TRST) Declares Quarterly Dividend of $0.38

TrustCo Bank Corp NY (NASDAQ:TRST) declared a quarterly dividend on Tuesday, February 17th. Shareholders of record on Friday, March 6th will be given a dividend of 0.38 per share by the bank on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 6th.

TrustCo Bank Corp NY has raised its dividend payment by an average of 0.0%annually over the last three years.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST traded up $0.05 during trading hours on Wednesday, reaching $46.00. The stock had a trading volume of 13,756 shares, compared to its average volume of 96,588. The stock has a market capitalization of $847.32 million, a PE ratio of 14.15 and a beta of 0.62. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $48.45. The company has a 50 day moving average price of $43.50 and a two-hundred day moving average price of $40.11.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Wednesday, January 21st. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. TrustCo Bank Corp NY had a net margin of 21.96% and a return on equity of 8.86%. The firm had revenue of $48.17 million during the quarter, compared to analyst estimates of $48.69 million. During the same period last year, the firm posted $0.59 earnings per share.

TrustCo Bank Corp NY announced that its board has authorized a share repurchase program on Friday, December 19th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 0.3% of its stock through open market purchases. Stock 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 (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.