TrustCo Bank Corp NY (NASDAQ:TRST) issued its quarterly earnings data on Wednesday. The bank reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate 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%.
Shares of NASDAQ:TRST opened at $7.08 on Friday. The company has a market capitalization of $682.75 million, a P/E ratio of 12.87 and a beta of 1.20. TrustCo Bank Corp NY has a 1-year low of $4.30 and a 1-year high of $8.23. The firm’s 50 day simple moving average is $6.74 and its two-hundred day simple moving average is $6.05.
The company also recently announced a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Friday, December 4th were paid a dividend of $0.068 per share. This represents a $0.27 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, December 3rd. TrustCo Bank Corp NY’s payout ratio is 45.00%.
In other news, Director Frank B. Silverman bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 17th. The stock was bought at an average price of $6.21 per share, with a total value of $31,050.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $93,150. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert M. Leonard purchased 7,252 shares of the business’s stock in a transaction on Friday, November 27th. The stock was acquired at an average price of $6.21 per share, with a total value of $45,034.92. Following the purchase, 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. Over the last three months, insiders bought 17,285 shares of company stock valued at $107,028. Corporate insiders own 2.69% of the company’s stock.
Several research analysts have weighed in on TRST shares. Piper Sandler decreased their price target on shares of TrustCo Bank Corp NY from $7.00 to $6.50 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Zacks Investment Research raised TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Thursday, December 17th. Finally, TheStreet raised TrustCo Bank Corp NY from a “c” rating to a “b-” rating in a report on Friday, November 27th.
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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