TrustCo Bank Corp NY (NASDAQ:TRST) Declares Stock Repurchase Plan

TrustCo Bank Corp NY (NASDAQ:TRST) announced that its board has initiated a stock buyback plan on Tuesday, March 18th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

TrustCo Bank Corp NY Price Performance

TRST opened at $30.67 on Friday. The business’s 50-day moving average price is $32.06 and its two-hundred day moving average price is $33.51. TrustCo Bank Corp NY has a 1 year low of $25.83 and a 1 year high of $38.89. The company has a market capitalization of $583.04 million, a price-to-earnings ratio of 11.93 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Friday, March 7th. TrustCo Bank Corp NY’s payout ratio is 56.03%.

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.