TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
TRST has been the subject of a number of other research reports. Sandler O’Neill set a $10.00 price target on shares of TrustCo Bank Corp NY and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Canaccord Genuity raised their price target on shares of TrustCo Bank Corp NY from $7.25 to $9.50 in a report on Monday, December 4th.
Shares of TrustCo Bank Corp NY (TRST) opened at $8.90 on Tuesday. The stock has a market cap of $862.37, a P/E ratio of 19.78 and a beta of 1.08. 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 announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $43.54 million during the quarter. TrustCo Bank Corp NY had a net margin of 23.03% and a return on equity of 10.73%.
In other news, Director Gennaro Dennis A. De purchased 4,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was acquired at an average price of $8.80 per share, for a total transaction of $35,200.00. Following the acquisition, the director now directly owns 102,280 shares of the company’s stock, valued at $900,064. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of TRST. Assenagon Asset Management S.A. acquired a new stake in TrustCo Bank Corp NY in the 4th quarter valued at approximately $3,038,000. BlackRock Inc. increased its holdings in TrustCo Bank Corp NY by 2.1% in the 4th quarter. BlackRock Inc. now owns 12,154,474 shares of the bank’s stock valued at $111,819,000 after purchasing an additional 249,694 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TrustCo Bank Corp NY by 36.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 930,437 shares of the bank’s stock valued at $8,468,000 after purchasing an additional 247,130 shares during the last quarter. Systematic Financial Management LP increased its holdings in TrustCo Bank Corp NY by 27.6% in the 3rd quarter. Systematic Financial Management LP now owns 945,491 shares of the bank’s stock valued at $8,415,000 after purchasing an additional 204,471 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in TrustCo Bank Corp NY by 70.5% in the 4th quarter. Deutsche Bank AG now owns 281,117 shares of the bank’s stock valued at $2,584,000 after purchasing an additional 116,266 shares during the last quarter. Hedge funds and other institutional investors own 61.82% of the company’s stock.
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About TrustCo Bank Corp NY
TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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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