TrustCo Bank Corp NY (NASDAQ:TRST) Director Gennaro Dennis A. De bought 4,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were bought at an average price of $8.80 per share, with a total value of $35,200.00. Following the completion of the transaction, the director now owns 102,280 shares in the company, valued at approximately $900,064. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
TrustCo Bank Corp NY (NASDAQ TRST) traded up $0.05 during trading hours on Thursday, hitting $8.65. The stock had a trading volume of 24,215 shares, compared to its average volume of 339,323. The company has a market cap of $832.90, a P/E ratio of 17.30 and a beta of 1.19. TrustCo Bank Corp NY has a 1 year low of $7.25 and a 1 year high of $9.70.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, January 22nd. The bank reported $0.13 EPS for the quarter. The firm had revenue of $43.54 million during the quarter. TrustCo Bank Corp NY had a return on equity of 10.73% and a net margin of 23.03%.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $65625.00 dividend. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, November 30th. This represents a $262,500.00 annualized dividend and a dividend yield of 3,034,682.08%. TrustCo Bank Corp NY’s dividend payout ratio is presently 57.78%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in TrustCo Bank Corp NY by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 71,418 shares of the bank’s stock worth $554,000 after purchasing an additional 739 shares during the period. Stevens Capital Management LP grew its stake in TrustCo Bank Corp NY by 7.5% in the second quarter. Stevens Capital Management LP now owns 23,548 shares of the bank’s stock valued at $182,000 after acquiring an additional 1,644 shares during the period. Schwab Charles Investment Management Inc. grew its stake in TrustCo Bank Corp NY by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 401,392 shares of the bank’s stock valued at $3,111,000 after acquiring an additional 3,750 shares during the period. TIAA CREF Investment Management LLC grew its stake in TrustCo Bank Corp NY by 1.2% in the second quarter. TIAA CREF Investment Management LLC now owns 375,000 shares of the bank’s stock valued at $2,906,000 after acquiring an additional 4,489 shares during the period. Finally, Voya Investment Management LLC grew its stake in TrustCo Bank Corp NY by 4.4% in the second quarter. Voya Investment Management LLC now owns 112,851 shares of the bank’s stock valued at $875,000 after acquiring an additional 4,793 shares during the period. 58.58% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on TRST. Canaccord Genuity reiterated a “speculative buy” rating and set a $7.25 target price on shares of TrustCo Bank Corp NY in a research report on Wednesday, October 18th. Sandler O’Neill set a $10.00 target price on TrustCo Bank Corp NY and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, BidaskClub downgraded TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.
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TrustCo Bank Corp NY Company Profile
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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