TrustCo Bank Corp NY (NASDAQ:TRST) Announces Dividend Increase – $0.40 Per Share

TrustCo Bank Corp NY (NASDAQ:TRST) announced a quarterly dividend on Tuesday, August 18th. Investors of record on Friday, September 4th will be paid a dividend of 0.40 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, September 4th. This is a 5.3% increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38.

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

TRST opened at $57.34 on Wednesday. The stock has a market cap of $976.39 million, a price-to-earnings ratio of 15.93 and a beta of 0.62. The stock’s 50 day moving average price is $55.22 and its 200-day moving average price is $49.52. TrustCo Bank Corp NY has a one year low of $34.31 and a one year high of $58.97.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $0.98 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 22.76% and a return on equity of 9.62%. The business had revenue of $51.50 million for the quarter.

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.