TrustCo Bank Corp NY (TRST) to Release Quarterly Earnings on Monday

TrustCo Bank Corp NY (NASDAQ:TRST) will be releasing its earnings data after the market closes on Monday, April 22nd. Analysts expect TrustCo Bank Corp NY to post earnings of $0.60 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.14). The company had revenue of $63.11 million during the quarter, compared to the consensus estimate of $44.90 million. TrustCo Bank Corp NY had a net margin of 23.98% and a return on equity of 9.36%. During the same quarter last year, the firm posted $1.10 earnings per share. On average, analysts expect TrustCo Bank Corp NY to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TrustCo Bank Corp NY Trading Up 3.7 %

Shares of TRST stock opened at $26.93 on Friday. The stock has a market cap of $512.21 million, a P/E ratio of 8.74 and a beta of 0.84. The stock has a 50 day simple moving average of $27.32 and a 200 day simple moving average of $28.04. TrustCo Bank Corp NY has a 1 year low of $23.78 and a 1 year high of $32.10.

TrustCo Bank Corp NY Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd.

Insiders Place Their Bets

In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the purchase, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the purchase, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Eric W. Schreck bought 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average price of $28.44 per share, with a total value of $28,440.00. Following the completion of the purchase, the executive vice president now directly owns 41,407 shares of the company’s stock, valued at $1,177,615.08. The disclosure for this purchase can be found here. Insiders acquired 2,879 shares of company stock worth $80,023 over the last three months. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of TrustCo Bank Corp NY by 1.2% during the first quarter. BlackRock Inc. now owns 2,836,175 shares of the bank’s stock worth $90,558,000 after buying an additional 32,718 shares in the last quarter. Vanguard Group Inc. increased its holdings in TrustCo Bank Corp NY by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank’s stock valued at $43,173,000 after purchasing an additional 50,079 shares during the period. Dimensional Fund Advisors LP increased its holdings in TrustCo Bank Corp NY by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,130,289 shares of the bank’s stock valued at $36,101,000 after purchasing an additional 62,517 shares during the period. Finally, State Street Corp increased its holdings in TrustCo Bank Corp NY by 0.5% in the second quarter. State Street Corp now owns 866,340 shares of the bank’s stock valued at $25,089,000 after purchasing an additional 4,418 shares during the period. 68.57% of the stock is currently owned by institutional investors and hedge funds.

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 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.