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

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST traded down $0.12 during mid-day trading on Monday, hitting $27.66. The company’s stock had a trading volume of 36,242 shares, compared to its average volume of 84,581. The stock has a market cap of $526.09 million, a price-to-earnings ratio of 7.56 and a beta of 0.89. TrustCo Bank Corp NY has a one year low of $23.78 and a one year high of $39.36. The company’s fifty day simple moving average is $26.87 and its 200-day simple moving average is $28.37.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, October 24th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $62.13 million for the quarter, compared to analyst estimates of $47.29 million. TrustCo Bank Corp NY had a net margin of 29.26% and a return on equity of 11.34%. During the same quarter last year, the firm earned $1.01 EPS. On average, sell-side analysts predict that TrustCo Bank Corp NY will post 3.22 EPS for the current year.

Insider Activity

In other news, EVP Robert M. Leonard acquired 1,000 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the purchase, the executive vice president now directly owns 31,192 shares of the company’s stock, valued at $784,478.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert M. Leonard acquired 1,000 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the purchase, the executive vice president now directly owns 31,192 shares of the company’s stock, valued at $784,478.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Ozimek acquired 1,900 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $27.74 per share, for a total transaction of $52,706.00. Following the purchase, the chief financial officer now directly owns 24,982 shares in the company, valued at $693,000.68. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 5,842 shares of company stock valued at $156,086. 3.26% of the stock is currently owned by insiders.

Institutional Trading of TrustCo Bank Corp NY

Several hedge funds have recently bought and sold shares of TRST. Geneos Wealth Management Inc. acquired a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $30,000. Lazard Asset Management LLC acquired a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $34,000. Captrust Financial Advisors raised its holdings in TrustCo Bank Corp NY by 104.4% during the 1st quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock worth $36,000 after buying an additional 569 shares during the period. FMR LLC raised its holdings in TrustCo Bank Corp NY by 49.2% during the 1st quarter. FMR LLC now owns 1,216 shares of the bank’s stock worth $39,000 after buying an additional 401 shares during the period. Finally, KBC Group NV raised its holdings in shares of TrustCo Bank Corp NY by 158.9% in the first quarter. KBC Group NV now owns 1,626 shares of the bank’s stock valued at $52,000 after purchasing an additional 998 shares during the last quarter. 67.80% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Company Profile

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.