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

StockNews.com upgraded shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a sell rating to a hold rating in a research report report published on Tuesday morning.

TrustCo Bank Corp NY Trading Up 4.2 %

Shares of TrustCo Bank Corp NY stock opened at $27.90 on Tuesday. The company has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $28.05. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10. The stock has a market cap of $530.77 million, a price-to-earnings ratio of 9.06 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.14). TrustCo Bank Corp NY had a net margin of 23.98% and a return on equity of 9.36%. The business had revenue of $63.11 million during the quarter, compared to analysts’ expectations of $44.90 million. During the same quarter last year, the company earned $1.10 EPS. On average, analysts forecast that TrustCo Bank Corp NY will post 2.54 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $0.36 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.44 annualized dividend and a yield of 5.16%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 46.75%.

Insider Activity at TrustCo Bank Corp NY

In other TrustCo Bank Corp NY news, COO Kevin M. Curley purchased 916 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the transaction, the chief operating officer now directly owns 34,766 shares in the company, valued at $949,111.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TrustCo Bank Corp NY news, COO Kevin M. Curley purchased 916 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the transaction, the chief operating officer now directly owns 34,766 shares in the company, valued at $949,111.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric W. Schreck purchased 1,000 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $28.44 per share, with a total value of $28,440.00. Following the transaction, the executive vice president now owns 41,407 shares in the company, valued at $1,177,615.08. The disclosure for this purchase can be found here. Insiders acquired a total of 2,879 shares of company stock worth $80,023 in the last 90 days. 3.32% of the stock is owned by insiders.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in TrustCo Bank Corp NY during the 4th quarter worth $28,000. Quest Partners LLC purchased a new position in TrustCo Bank Corp NY during the 4th quarter worth $144,000. Nisa Investment Advisors LLC raised its position in TrustCo Bank Corp NY by 39,333.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after buying an additional 5,900 shares during the last quarter. Advisor Partners II LLC purchased a new position in TrustCo Bank Corp NY during the 3rd quarter worth $201,000. Finally, Maryland State Retirement & Pension System purchased a new position in TrustCo Bank Corp NY during the 4th quarter worth $218,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

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 and businesses. 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.