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

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

TrustCo Bank Corp NY Stock Up 4.2 %

TRST traded up $1.12 during trading on Tuesday, hitting $27.90. 84,713 shares of the company traded hands, compared to its average volume of 80,576. The firm has a market cap of $530.77 million, a P/E ratio of 9.06 and a beta of 0.84. The stock’s fifty day moving average is $27.30 and its 200 day moving average is $28.05. TrustCo Bank Corp NY has a one year low of $23.78 and a one year high of $32.10.

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

Insider Transactions at TrustCo Bank Corp NY

In other news, EVP Eric W. Schreck purchased 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $28.44 per share, with a total value of $28,440.00. Following the completion of the acquisition, the executive vice president now owns 41,407 shares in the company, valued at approximately $1,177,615.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Eric W. Schreck purchased 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $28.44 per share, with a total value of $28,440.00. Following the completion of the acquisition, the executive vice president now owns 41,407 shares in the company, valued at approximately $1,177,615.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kevin M. Curley acquired 916 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $949,111.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,879 shares of company stock valued at $80,023. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRST. Assenagon Asset Management S.A. increased its position in shares of TrustCo Bank Corp NY by 911.9% in the third quarter. Assenagon Asset Management S.A. now owns 110,749 shares of the bank’s stock worth $3,022,000 after purchasing an additional 99,804 shares during the last quarter. Hsbc Holdings PLC bought a new position in TrustCo Bank Corp NY during the fourth quarter valued at approximately $2,672,000. Dimensional Fund Advisors LP grew its position in TrustCo Bank Corp NY by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock valued at $36,836,000 after acquiring an additional 33,892 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in TrustCo Bank Corp NY by 33.4% during the third quarter. Brandywine Global Investment Management LLC now owns 131,019 shares of the bank’s stock valued at $3,576,000 after acquiring an additional 32,817 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in TrustCo Bank Corp NY by 19.5% during the third quarter. AQR Capital Management LLC now owns 192,719 shares of the bank’s stock valued at $5,259,000 after acquiring an additional 31,483 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

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 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.