TrustCo Bank Corp NY (NASDAQ:TRST) to Issue $0.36 Quarterly Dividend

TrustCo Bank Corp NY (NASDAQ:TRST) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.36 per share by the bank on Thursday, January 2nd. This represents a $1.44 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, December 6th.

TrustCo Bank Corp NY has increased its dividend payment by an average of 1.9% annually over the last three years. TrustCo Bank Corp NY has a dividend payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST traded up $0.48 during trading on Thursday, reaching $36.77. The stock had a trading volume of 71,721 shares, compared to its average volume of 79,487. The stock has a market cap of $699.00 million, a PE ratio of 14.52 and a beta of 0.81. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $37.84. The firm’s 50 day moving average price is $33.82 and its two-hundred day moving average price is $31.66.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a return on equity of 7.24% and a net margin of 18.24%. The business had revenue of $66.00 million for the quarter. During the same period last year, the business posted $0.77 EPS.

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.