Kevin M. Curley Buys 308 Shares of TrustCo Bank Corp NY (NASDAQ:TRST) Stock

TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) COO Kevin M. Curley bought 308 shares of TrustCo Bank Corp NY stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average cost of $32.51 per share, for a total transaction of $10,013.08. Following the purchase, the chief operating officer now directly owns 31,393 shares in the company, valued at approximately $1,020,586.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TrustCo Bank Corp NY Price Performance

TrustCo Bank Corp NY stock opened at $33.97 on Friday. The company’s 50 day simple moving average is $36.45 and its 200 day simple moving average is $35.98. TrustCo Bank Corp NY has a fifty-two week low of $29.50 and a fifty-two week high of $39.36. The firm has a market capitalization of $646.11 million, a price-to-earnings ratio of 8.64 and a beta of 0.92.

TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) last announced its earnings results on Tuesday, January 24th. The bank reported $1.10 EPS for the quarter, topping the consensus estimate of $0.99 by $0.11. The firm had revenue of $56.86 million for the quarter, compared to the consensus estimate of $52.32 million. TrustCo Bank Corp NY had a net margin of 36.55% and a return on equity of 12.66%. As a group, analysts predict that TrustCo Bank Corp NY will post 3.87 EPS for the current fiscal year.

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.44 annualized dividend and a yield of 4.24%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 36.64%.

Institutional Trading of TrustCo Bank Corp NY

Hedge funds have recently bought and sold shares of the stock. Systematic Financial Management LP raised its holdings in shares of TrustCo Bank Corp NY by 1.4% in the third quarter. Systematic Financial Management LP now owns 812,718 shares of the bank’s stock valued at $25,536,000 after purchasing an additional 11,345 shares during the last quarter. King Wealth acquired a new stake in shares of TrustCo Bank Corp NY in the second quarter valued at approximately $326,000. Teacher Retirement System of Texas acquired a new stake in shares of TrustCo Bank Corp NY in the third quarter valued at approximately $790,000. Prudential Financial Inc. raised its holdings in shares of TrustCo Bank Corp NY by 46.3% in the third quarter. Prudential Financial Inc. now owns 38,852 shares of the bank’s stock valued at $1,221,000 after purchasing an additional 12,291 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of TrustCo Bank Corp NY by 13.0% in the third quarter. Los Angeles Capital Management LLC now owns 31,309 shares of the bank’s stock valued at $984,000 after purchasing an additional 3,600 shares during the last quarter. 65.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRST. Piper Sandler lowered shares of TrustCo Bank Corp NY from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $39.00 to $36.00 in a research note on Wednesday, January 25th. StockNews.com began coverage on shares of TrustCo Bank Corp NY in a research note on Thursday. They set a “hold” rating on the stock.

TrustCo Bank Corp NY Company Profile

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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. It 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.