TrustCo Bank Corp NY (NASDAQ:TRST) Upgraded by StockNews.com to “Hold”

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

TrustCo Bank Corp NY Price Performance

Shares of TrustCo Bank Corp NY stock opened at $27.90 on Tuesday. The firm has a fifty day moving average price of $27.30 and a 200 day moving average price of $28.05. TrustCo Bank Corp NY has a 1 year low of $23.78 and a 1 year high of $32.10. The stock has a market cap of $530.77 million, a PE ratio of 9.06 and a beta of 0.84.

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

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.36 per share. 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 is presently 46.75%.

Insider Activity at TrustCo Bank Corp NY

In other news, COO Kevin M. Curley purchased 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now owns 34,766 shares in the company, valued at $949,111.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Kevin M. Curley purchased 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now owns 34,766 shares in the company, valued at $949,111.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric W. Schreck purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $28.44 per share, for a total transaction of $28,440.00. Following the transaction, the executive vice president now owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,879 shares of company stock worth $80,023. 3.32% of the stock is owned by company insiders.

Institutional Trading of TrustCo Bank Corp NY

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in shares of TrustCo Bank Corp NY by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock valued at $36,836,000 after purchasing an additional 33,892 shares during the period. American Century Companies Inc. grew its position in shares of TrustCo Bank Corp NY by 10.7% in the third quarter. American Century Companies Inc. now owns 202,684 shares of the bank’s stock valued at $5,531,000 after purchasing an additional 19,523 shares during the period. AQR Capital Management LLC grew its position in shares of TrustCo Bank Corp NY by 19.5% in the third quarter. AQR Capital Management LLC now owns 192,719 shares of the bank’s stock valued at $5,259,000 after purchasing an additional 31,483 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of TrustCo Bank Corp NY by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 153,524 shares of the bank’s stock valued at $4,190,000 after purchasing an additional 7,143 shares during the period. Finally, Brandywine Global Investment Management LLC grew its position in shares of TrustCo Bank Corp NY by 33.4% in the third quarter. Brandywine Global Investment Management LLC now owns 131,019 shares of the bank’s stock valued at $3,576,000 after purchasing an additional 32,817 shares during the period. Institutional investors and hedge funds 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.