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TrustCo Bank Corp NY (TRST)
:TRST
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.52Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2018
|% Change Since: -0.12%
|Next Earnings Date:Jul 23, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook with strong financial performance, highlighted by increased net interest margin, record loan levels, and growth in net income. Despite minor challenges such as a decrease in installment loans and higher ORE expenses, the overall financial health and strategic direction of the company appear robust.Company Guidance
During the TrustCo Bancorp Q3 2024 earnings call, the executives provided a comprehensive overview of the company's performance and future guidance. The bank reported a net income of $12.9 million, a 2.6% increase over the previous quarter, with a return on average assets of 0.84% and a return on average equity of 7.74%. The net interest margin rose to 2.61%, marking two consecutive quarters of improvement. Total loans reached a record high of nearly $5.1 billion, driven by a 6% increase in the home equity portfolio and a 1.2% rise in residential real estate loans. The consolidated equity to assets ratio stood at 10.95%, while the book value per share increased by 7.3% year-over-year to $35.19. TrustCo's nonperforming loans remained low at 0.38% of total loans, underscoring strong credit quality. Deposits ended the quarter at $5.3 billion, and the bank's wealth management division managed $1.3 billion in assets. The company remains focused on competitive product offerings and maintaining strong customer relationships while considering potential branch expansions and share buybacks as part of its capital strategy.Increase in Net Interest Margin
The net interest margin for the third quarter of 2024 was 2.61%, up 8 basis points from the second quarter of '24, marking two consecutive quarters of an increase.
Record Loan Levels
Total loans reached an all-time high of nearly $5.1 billion, with significant growth in residential real estate and home equity lines of credit.
Strong Credit Quality
Nonperforming loans to total loans held steady at 0.38% over the quarter, reflecting high underwriting standards.
Growth in Net Income
Net income for the third quarter was $12.9 million, an increase of 2.6% over the prior quarter.
Increase in Book Value Per Share
Book value per share increased by 7.3% compared to the previous year, reaching $35.19.
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TRST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TRST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $32.26 | $33.14 | +2.73% |
| Jul 22, 2024 | $32.35 | $34.01 | +5.13% |
| Apr 22, 2024 | $25.89 | $26.97 | +4.17% |
| Jan 22, 2024 | $28.72 | $28.46 | -0.91% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does TrustCo Bank Corp NY (TRST) report earnings?
TrustCo Bank Corp NY (TRST) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is TrustCo Bank Corp NY (TRST) earnings time?
TrustCo Bank Corp NY (TRST) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TRST EPS forecast?
Currently, no data Available
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