TrustCo Bank Corp NY (NASDAQ:TRST) Lowered to Hold at StockNews.com

StockNews.com lowered shares of TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, TheStreet raised TrustCo Bank Corp NY from a c+ rating to a b- rating in a research report on Thursday, July 28th.

TrustCo Bank Corp NY Stock Up 1.6 %

TRST opened at $34.36 on Tuesday. The stock has a market cap of $659.61 million, a PE ratio of 9.71 and a beta of 0.95. The business has a 50 day moving average of $31.53 and a 200-day moving average of $32.24. TrustCo Bank Corp NY has a 52 week low of $29.50 and a 52 week high of $37.10.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.16. The company had revenue of $47.98 million during the quarter, compared to analysts’ expectations of $45.87 million. TrustCo Bank Corp NY had a return on equity of 11.44% and a net margin of 36.18%. During the same quarter last year, the business posted $0.75 EPS. Equities analysts anticipate that TrustCo Bank Corp NY will post 3.6 EPS for the current year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 3rd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Thursday, June 2nd. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 39.55%.

Insider Activity at TrustCo Bank Corp NY

In related news, EVP Robert M. Leonard acquired 850 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average price of $32.68 per share, with a total value of $27,778.00. Following the transaction, the executive vice president now directly owns 26,043 shares in the company, valued at $851,085.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TrustCo Bank Corp NY news, EVP Robert M. Leonard bought 850 shares of TrustCo Bank Corp NY stock in a transaction on Tuesday, July 26th. The stock was acquired at an average price of $32.68 per share, with a total value of $27,778.00. Following the acquisition, the executive vice president now owns 26,043 shares in the company, valued at $851,085.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Mccormick bought 1,800 shares of TrustCo Bank Corp NY stock in a transaction on Wednesday, July 27th. The stock was acquired at an average cost of $32.90 per share, with a total value of $59,220.00. Following the acquisition, the chief executive officer now owns 246,452 shares in the company, valued at approximately $8,108,270.80. The disclosure for this purchase can be found here. Insiders purchased a total of 3,230 shares of company stock valued at $104,456 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of TrustCo Bank Corp NY

A number of institutional investors and hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth $592,000. Assenagon Asset Management S.A. purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth $2,900,000. AHL Investment Management Inc. purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth $691,000. BHZ Capital Management LP boosted its stake in shares of TrustCo Bank Corp NY by 10.7% in the 4th quarter. BHZ Capital Management LP now owns 26,342 shares of the bank’s stock worth $877,000 after buying an additional 2,539 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of TrustCo Bank Corp NY by 1.4% in the 4th quarter. Royce & Associates LP now owns 260,323 shares of the bank’s stock worth $8,671,000 after buying an additional 3,648 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

TrustCo Bank Corp NY Company Profile

(Get Rating)

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, partnerships, and corporations. 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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