Trustco Bank (NASDAQ: TRST) has recently declared a quarterly dividend of 36 cents per share to be paid out on April 01, 2024. The ex-dividend date is set for Thursday, which means the stock is expected to open 36 cents lower on that day to adjust for the dividend payout.
Shareholders who hold TRST as of the end of Wednesday’s trading session will qualify to receive the dividend. Trustco Bank Corp NY (TRST) has a history of paying dividends ranging from $0.06813 to $0.36 per share quarterly. The company’s last ex-dividend date was on November 30, 2023, where it paid out $0.36 per share.
Investors have the option to reinvest these dividends into the stock or use the payment in other ways. To keep track of companies distributing dividends, investors can utilize resources like TipRanks. Stay informed and make the most of your investment opportunities.
TRST Stock Price Declines on February 26, 2024: Opportunity for Value Investors?
On February 26, 2024, TRST stock experienced a decline in its price, closing at $27.57, which was $0.33 lower than the previous market close. This represents a 1.18% drop in the stock price for the day. Despite the decrease in price during regular trading hours, the stock remained unchanged in after-hours trading. This could indicate that investors are taking a cautious approach towards TRST, possibly waiting for more information or market conditions to change before making any significant moves. The fact that TRST is trading near the bottom of its 52-week range suggests that the stock may be undervalued at its current price. Overall, the performance of TRST stock on February 26, 2024, reflects a slight decline in price but with potential opportunities for value investors.
TRST Stock Performance: Revenue Up, Net Income Down – February 26, 2024 Review
On February 26, 2024, TRST stock experienced mixed performances as the company reported its financial results for the past year and the fourth quarter. According to data from CNN Money, TRST’s total revenue stood at $244.00 million for the past year, representing an 18.45% increase compared to the previous year. However, total revenue remained flat at $63.13 million for the fourth quarter, indicating no growth from the previous quarter.
In terms of net income, TRST reported a net income of $58.65 million for the past year, which was a 22.05% decrease from the previous year. The net income for the fourth quarter was $9.85 million, showing a 32.92% decrease from the previous quarter. This decline in net income could be a cause for concern for investors as it indicates a decrease in profitability for the company.
Furthermore, TRST’s earnings per share (EPS) also experienced a decline. The EPS for the past year was $3.08, marking a 21.67% decrease from the previous year. The EPS for the fourth quarter was $0.52, showing a 32.93% decrease from the previous quarter. This decrease in EPS could be attributed to the decline in net income and could impact investor confidence in the company’s future earnings potential.
Overall, TRST stock performances on February 26, 2024, were mixed as the company reported a strong increase in total revenue for the past year but a decline in net income and EPS. Investors may want to closely monitor TRST’s financial performance in the coming quarters to assess whether these declines are temporary or indicative of a larger issue within the company.
