TrustCo Bank Corp NY to Issue Quarterly Dividend of $0.07 (TRST)

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TrustCo Bank Corp NY (NASDAQ:TRST) declared a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.0681 per share by the bank on Monday, July 1st. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Thursday, June 6th.

TrustCo Bank Corp NY has increased its dividend payment by an average of 0.3% per year over the last three years.

Shares of TRST stock traded down $0.07 during trading hours on Wednesday, reaching $7.70. The company had a trading volume of 116,514 shares, compared to its average volume of 231,525. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $752.31 million, a P/E ratio of 12.02 and a beta of 1.09. TrustCo Bank Corp NY has a 1-year low of $6.51 and a 1-year high of $9.45.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The company had revenue of $44.37 million during the quarter. TrustCo Bank Corp NY had a net margin of 30.17% and a return on equity of 12.62%.

Separately, BidaskClub downgraded TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th.

In related news, insider Robert M. Leonard sold 17,252 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $8.28, for a total transaction of $142,846.56. Following the sale, the insider now owns 68,850 shares of the company’s stock, valued at approximately $570,078. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.64% of the company’s stock.

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About TrustCo Bank Corp NY

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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Dividend History for TrustCo Bank Corp NY (NASDAQ:TRST)

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