Curtis N. Powell Buys 735 Shares of TrustCo Bank Corp NY (NASDAQ:TRST) Stock

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) Director Curtis N. Powell acquired 735 shares of TrustCo Bank Corp NY stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $33.26 per share, with a total value of $24,446.10. Following the acquisition, the director now owns 735 shares of the company’s stock, valued at $24,446.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TrustCo Bank Corp NY Stock Up 0.5 %

Shares of NASDAQ:TRST opened at $33.81 on Friday. TrustCo Bank Corp NY has a 12-month low of $29.50 and a 12-month high of $37.10. The stock has a market cap of $646.79 million, a PE ratio of 9.55 and a beta of 0.93. The business has a 50 day moving average of $33.42 and a 200-day moving average of $32.24.

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

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.14%. TrustCo Bank Corp NY’s payout ratio is 39.55%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of TrustCo Bank Corp NY by 1.2% in the first quarter. BlackRock Inc. now owns 2,836,175 shares of the bank’s stock valued at $90,558,000 after buying an additional 32,718 shares in the last quarter. Vanguard Group Inc. raised its position in shares of TrustCo Bank Corp NY by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank’s stock valued at $43,173,000 after buying an additional 50,079 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TrustCo Bank Corp NY by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 933,905 shares of the bank’s stock valued at $29,820,000 after buying an additional 16,088 shares in the last quarter. Systematic Financial Management LP raised its position in shares of TrustCo Bank Corp NY by 10.0% in the first quarter. Systematic Financial Management LP now owns 753,274 shares of the bank’s stock valued at $24,052,000 after buying an additional 68,324 shares in the last quarter. Finally, State Street Corp raised its position in TrustCo Bank Corp NY by 1.2% during the second quarter. State Street Corp now owns 721,480 shares of the bank’s stock valued at $22,499,000 after purchasing an additional 8,517 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TRST shares. TheStreet upgraded TrustCo Bank Corp NY from a “c+” rating to a “b-” rating in a report on Thursday, July 28th. StockNews.com cut TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd.

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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Insider Buying and Selling by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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