Highest Paying Dividend Stocks – In Focus TRST

TrustCo Bank Corp of New York is one of the highest paying dividend stocks we cover (dividend yield = 4.17). But it is not one of the best dividend stocks we cover. We will explain why in this report.

Background

TrustCo Bank Corp of New York (TRST) is a savings and loan holding company whose principal subsidiary is TrustCo Bank. TrustCo Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships, and corporations. However, it specializes in residential mortgage lending.

TRST opened for business in 1902 in Schenectady, New York. In 2002, TRST started a major expansion in which it opened 80 new branches in Central Florida, Massachusetts, downstate New York, New Jersey, and Vermont. Today, TRST has 146 branches (51 of which are in the state of Florida), and it has assets of roughly $ 4.6 billion.

Stock Fundamentals

We have data for TRST going back 14 years. And TRST’s performance has never been good. Its operational performance over this span of time (even over the best five – six year period of time) has been mediocre. And its price reflects this. Its price is about half of what it was 14 years ago. Its most recent performance (and therefore its most relevant performance) is only slightly better.

TRST is not totally meritless. It has paid dividends for over 100 consecutive years (although it did cut its dividend on occasion). And its net income, operating profits, and cash flows from operations have all been almost exclusively positive over the last seven – eight years. Furthermore, it is not outrageously priced.

Overall, we give TRST’s fundamentals an average rating. And we would not consider it one of our best monthly dividend stocks.

Stat Sheet – TrustCo Bank Corp NY 4/15/16

  Information
Ticker TRST
Industry Regional Banks
Price $ 6.29
Market Cap  $ 598
Dividend Yield 4.17
Dividend/CFOp 0.429
Equity/Assets 0.087
Average Equity/Assets 0.076
Financial Strength Average
Growth Prospects Average
Beta 1.03
Price Volatility Below Average
Stock Fundamentals C

(Our assessment of this firm’s fundamentals will be in effect for the rest of calendar year 2016.)

If you would like to see more of the top dividend paying stocks that we would consider our best monthly dividend stocks (as well as stocks that have other characteristics we feel are admirable) click the link below.

Best Dividend Paying Stocks and More

Disclaimer – Information contained herein has been obtained from sources believed to be reliable. Neither the author nor the publisher guarantees the accuracy or completeness of the information and methods described. This information is offered as general commentary only. It is not intended as investment advice. Investment and trading of securities involves risk, including of loss of capital. Market conditions change over time, and no assurance can be given that a reader may apply the principles described to make a profit. The author and publisher expressly disclaim all and any liability to any person for any investment or trading decisions that the reader may make in reliance on this information.

 

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Highest Paying Dividend Stocks – In Focus TRST

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