TrustCo Bank Corp NY (TRST) Scheduled to Post Earnings on Monday

TrustCo Bank Corp NY (NASDAQ:TRST) will post its quarterly earnings results 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced 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). TrustCo Bank Corp NY had a net margin of 23.98% and a return on equity of 9.36%. The business had revenue of $63.11 million during the quarter, compared to analysts’ expectations of $44.90 million. During the same period last year, the company earned $1.10 EPS. 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 Price Performance

Shares of NASDAQ TRST opened at $26.93 on Friday. The firm’s 50-day moving average is $27.32 and its two-hundred day moving average is $28.03. The company has a market capitalization of $512.21 million, a PE ratio of 8.74 and a beta of 0.84. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10.

TrustCo Bank Corp NY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, COO Kevin M. Curley purchased 916 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $27.30 per share, with a total value of $25,006.80. Following the acquisition, the chief operating officer now owns 34,766 shares in the company, valued at $949,111.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Kevin M. Curley acquired 916 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $27.30 per share, with a total value of $25,006.80. Following the acquisition, the chief operating officer now directly owns 34,766 shares in the company, valued at $949,111.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric W. Schreck acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $28.44 per share, with a total value of $28,440.00. Following the completion of the acquisition, the executive vice president now owns 41,407 shares in the company, valued at $1,177,615.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,879 shares of company stock valued at $80,023. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new stake in shares of TrustCo Bank Corp NY during the 1st quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in shares of TrustCo Bank Corp NY in the 1st quarter worth approximately $34,000. Captrust Financial Advisors raised its holdings in shares of TrustCo Bank Corp NY by 104.4% in the 1st quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock worth $36,000 after purchasing an additional 569 shares in the last quarter. FMR LLC raised its holdings in shares of TrustCo Bank Corp NY by 49.2% in the 1st quarter. FMR LLC now owns 1,216 shares of the bank’s stock worth $39,000 after purchasing an additional 401 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth approximately $50,000. 68.57% of the stock is owned by institutional investors and hedge funds.

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 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.