TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) will release quarterly earnings data after market close on Thursday, April 21. Analysts expect the company to report earnings of $0.69 per share for the quarter. Those wishing to listen to the company’s earnings conference call can do so using this link.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) last reported results on Monday, January 24. The bank reported earnings per share of $0.85 for the quarter, beating Thomson Reuters consensus estimate of $0.74 by $0.11. TrustCo Bank Corp NY achieved a return on equity of 10.53% and a net margin of 33.09%. The company posted revenue of $44.82 million for the quarter, versus analyst estimates of $44.09 million. On average, analysts expect TrustCo Bank Corp NY to post EPS of $3 for the current fiscal year and EPS of $3 for the next fiscal year.
Shares of NASDAQ:TRST opened at $31.11 on Tuesday. The company has a fifty-day moving average of $32.86. TrustCo Bank Corp NY has a 52-week low of $29.78 and a 52-week high of $41.47. The stock has a market capitalization of $597.37 million, a P/E ratio of 9.66 and a beta of 1.04.
The company also recently announced a quarterly dividend, which was paid on Friday, April 1. Investors of record on Friday, March 4 received a dividend of $0.35 per share. The ex-dividend date was Thursday, March 3. This represents an annualized dividend of $1.40 and a dividend yield of 4.50%. TrustCo Bank Corp NY’s payout ratio is currently 43.48%.
A number of brokerages have weighed in on TRST recently. StockNews.com began covering TrustCo Bank Corp NY in a report on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research upgraded TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a price target of $38.00 for the company in a Tuesday, February 15 report.
Separately, Executive Vice President Kevin M. Curley purchased 1,000 shares of the company in a transaction dated Wednesday, February 23. The shares were acquired at an average cost of $33.99 per share, with a total value of $33,990.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.10% of the company’s shares.
Institutional investors have recently changed their stock portfolios. JPMorgan Chase & Co. increased its stake in shares of TrustCo Bank Corp NY by 42.2% in the 4th quarter. JPMorgan Chase & Co. now owns 127,971 shares of the bank valued at $4,264,000 after purchasing an additional 37,975 shares during the period. State Street Corp increased its holdings of TrustCo Bank Corp NY shares by 5.1% during the fourth quarter. State Street Corp now owns 691,903 shares of the bank worth $23,284,000 after acquiring 33,308 additional shares during the period. Millennium Management LLC increased its holdings of TrustCo Bank Corp NY shares by 84.8% during the third quarter. Millennium Management LLC now owns 67,373 shares of the bank worth $2,154,000 after acquiring an additional 30,923 shares during the period. BNP Paribas Arbitrage SA purchased a new equity stake in TrustCo Bank Corp NY in the third quarter, valued at approximately $127,000. Finally, Citadel Advisors LLC increased its position in TrustCo Bank Corp NY by 175.8% during the third quarter. Citadel Advisors LLC now owns 36,978 shares of the bank valued at $1,182,000 after buying 23,569 additional shares last quarter. 64.59% of the shares are currently held by institutional investors and hedge funds.
About TrustCo Bank Corp NY (Get a rating)
TrustCo Bank Corp NY operates as the holding company of Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships and corporations. 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 mortgages and mortgage-backed securities.
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