TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
TrustCo Bank Corp NY Stock Performance
Shares of TRST opened at $30.38 on Wednesday. The company has a 50 day moving average price of $32.09 and a 200-day moving average price of $33.55. TrustCo Bank Corp NY has a fifty-two week low of $25.83 and a fifty-two week high of $38.89. The stock has a market capitalization of $577.52 million, a PE ratio of 11.82 and a beta of 0.80.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.
TrustCo Bank Corp NY Dividend Announcement
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.
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