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Update: TrustCo Bank Declares Its Dividend - Where The Hell Is My Raise?
- TrustCo Bank Corp. has just announced its quarterly dividend.
- I called for a raise and it didn't happen.
- I remain bullish on this good-yielding quality regional bank, but am forced to push my dividend hike prediction into 2015.
Update: TrustCo Bank's Q3 Earnings - I Remain Resolute
- TrustCo Bank has just announced its third-quarter results, and virtually every measure of asset quality improved year-over-year.
- When I recently covered the stock, I predicted continued loan and deposit growth.
- The present news is bullish, and with the stock yielding 4%, I think it is a bargain.
- This article is an important follow-up to my Pro article on TrustCo Bank.
- Literally every asset quality indicator improved during the second quarter of 2014 relative to the second quarter of 2013.
- Shares are up 20% since I last highlighted the stock.
- I explain why you really can trust in TrustCo Bank.
Tue, Nov. 18, 2:20 PM
Tue, Oct. 21, 6:14 PM
- EPS of $0.113 vs. $0.125 in Q2
- Net interest margin of 3.16% vs. 3.12% in 3Q13.
- Tangible book value per share at $4.10 vs. $3.75 3Q13.
- Return on Average Assets 0.98%. Return on Average Equity 11.84%. Efficiency Ratio 52.35%
- Asset quality continued to improve with NPAs declining 16% to $43.6M.
- NPAs to total asset improving at 1.16%
- Loans portfolio reaches all time high at $3.08B
- Conference call tomorrow at 9 ET. Webcast here
- TRST No trades AH
- Previously: TrustCo Bank EPS in-line, beats on revenue
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