TrustCo Bank Corp NY (TRST) Sets New 1-Year Low at $7.15

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.15 and last traded at $7.24, with a volume of 12125 shares changing hands. The stock had previously closed at $7.37.

TRST has been the topic of several research analyst reports. BidaskClub upgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. ValuEngine downgraded TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th.

The stock has a market cap of $712.37 million, a price-to-earnings ratio of 12.28 and a beta of 0.99.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, October 22nd. The bank reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $44.98 million during the quarter. TrustCo Bank Corp NY had a return on equity of 12.39% and a net margin of 27.07%.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be given a $0.0681 dividend. This represents a $0.27 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, December 6th.

In other news, insider Kevin M. Curley bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was bought at an average cost of $7.76 per share, with a total value of $38,800.00. Following the transaction, the insider now directly owns 90,142 shares in the company, valued at approximately $699,501.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders acquired 11,323 shares of company stock valued at $86,899. 3.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in TrustCo Bank Corp NY by 3.7% in the 3rd quarter. BlackRock Inc. now owns 13,819,571 shares of the bank’s stock valued at $117,465,000 after acquiring an additional 498,152 shares in the last quarter. Vanguard Group Inc. grew its position in TrustCo Bank Corp NY by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,104,053 shares of the bank’s stock valued at $51,884,000 after acquiring an additional 88,939 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TrustCo Bank Corp NY by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,784,768 shares of the bank’s stock valued at $49,170,000 after acquiring an additional 111,664 shares in the last quarter. Royce & Associates LP grew its position in TrustCo Bank Corp NY by 5.6% in the 3rd quarter. Royce & Associates LP now owns 2,917,354 shares of the bank’s stock valued at $24,798,000 after acquiring an additional 155,485 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in TrustCo Bank Corp NY by 10.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,593,056 shares of the bank’s stock valued at $13,541,000 after acquiring an additional 145,756 shares in the last quarter. 61.70% of the stock is owned by institutional investors.

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TrustCo Bank Corp NY Company Profile (NASDAQ:TRST)

TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.

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