Eric W. Schreck Sells 2,400 Shares of TrustCo Bank Corp NY (NASDAQ:TRST) Stock

TrustCo Bank Corp NY (NASDAQ:TRST) SVP Eric W. Schreck sold 2,400 shares of TrustCo Bank Corp NY stock in a transaction on Monday, August 19th. The shares were sold at an average price of $7.78, for a total value of $18,672.00. Following the completion of the transaction, the senior vice president now owns 91,478 shares of the company’s stock, valued at approximately $711,698.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of TRST opened at $7.72 on Thursday. The stock has a fifty day moving average price of $7.93 and a two-hundred day moving average price of $7.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.95. TrustCo Bank Corp NY has a 52-week low of $6.51 and a 52-week high of $9.45. The company has a market cap of $751.05 million, a price-to-earnings ratio of 12.30 and a beta of 1.11.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $44.11 million during the quarter. TrustCo Bank Corp NY had a return on equity of 12.19% and a net margin of 29.19%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.068 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.52%.

Several equities analysts have issued reports on TRST shares. BidaskClub upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. GMP Securities reiterated a “hold” rating and issued a $6.00 price objective on shares of TrustCo Bank Corp NY in a research report on Thursday, July 11th.

Several hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. raised its position in shares of TrustCo Bank Corp NY by 5.8% during the first quarter. Piedmont Investment Advisors Inc. now owns 24,289 shares of the bank’s stock worth $188,000 after acquiring an additional 1,340 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of TrustCo Bank Corp NY by 3.4% during the second quarter. Virginia Retirement Systems ET AL now owns 57,800 shares of the bank’s stock worth $458,000 after acquiring an additional 1,900 shares during the last quarter. Rhumbline Advisers raised its position in shares of TrustCo Bank Corp NY by 0.8% during the first quarter. Rhumbline Advisers now owns 281,941 shares of the bank’s stock worth $2,188,000 after acquiring an additional 2,250 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of TrustCo Bank Corp NY by 21.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 12,851 shares of the bank’s stock worth $100,000 after acquiring an additional 2,278 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in shares of TrustCo Bank Corp NY by 3.9% during the first quarter. Texas Permanent School Fund now owns 65,689 shares of the bank’s stock worth $510,000 after acquiring an additional 2,436 shares during the last quarter. Institutional investors own 62.10% 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, 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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