TrustCo Bank Corp NY (NASDAQ:TRST) Plans $0.07 Quarterly Dividend

TrustCo Bank Corp NY (NASDAQ:TRST) declared a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 7th will be paid 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 yield of 3.57%. The ex-dividend date is Thursday, June 6th.

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

TrustCo Bank Corp NY stock traded up $0.10 during trading hours on Friday, reaching $7.64. 134,706 shares of the stock were exchanged, compared to its average volume of 222,831. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $721.33 million, a P/E ratio of 11.64 and a beta of 1.11. TrustCo Bank Corp NY has a 52-week low of $6.51 and a 52-week high of $9.45.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.15 earnings per share (EPS) 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 upgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating in a report on Friday, February 22nd.

In related news, Director William D. Powers sold 10,850 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $7.50, for a total value of $81,375.00. Following the sale, the director now directly owns 54,800 shares of the company’s stock, valued at approximately $411,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.

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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.

Further Reading: What is Depreciation?

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

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