TrustCo Bank Corp NY (NASDAQ:TRST) EVP Robert M. Leonard Acquires 640 Shares of Stock

TrustCo Bank Corp NY (NASDAQ:TRST) EVP Robert M. Leonard purchased 640 shares of the firm’s stock in a transaction dated Tuesday, November 23rd. The shares were bought at an average price of $34.15 per share, with a total value of $21,856.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

NASDAQ:TRST traded down $0.17 during mid-day trading on Thursday, hitting $34.15. 38,779 shares of the company’s stock traded hands, compared to its average volume of 87,225. The firm’s 50 day moving average price is $32.75. TrustCo Bank Corp NY has a 12 month low of $29.78 and a 12 month high of $41.47. The company has a market capitalization of $656.33 million, a price-to-earnings ratio of 11.12 and a beta of 1.15.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Wednesday, October 20th. The bank reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.15. TrustCo Bank Corp NY had a return on equity of 10.26% and a net margin of 31.63%. The firm had revenue of $44.18 million during the quarter, compared to the consensus estimate of $44.40 million. During the same quarter in the prior year, the company earned $0.75 EPS. On average, sell-side analysts forecast that TrustCo Bank Corp NY will post 3.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 3rd will be paid a dividend of $0.35 per share. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 2nd. This represents a $1.40 annualized dividend and a yield of 4.10%. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.30%.

A number of large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its stake in TrustCo Bank Corp NY by 6.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the bank’s stock valued at $297,000 after purchasing an additional 600 shares during the period. Voya Investment Management LLC boosted its stake in TrustCo Bank Corp NY by 2.3% during the 3rd quarter. Voya Investment Management LLC now owns 29,985 shares of the bank’s stock valued at $959,000 after purchasing an additional 662 shares during the period. State of Alaska Department of Revenue boosted its stake in TrustCo Bank Corp NY by 5.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,055 shares of the bank’s stock valued at $449,000 after purchasing an additional 715 shares during the period. Huntington National Bank bought a new stake in TrustCo Bank Corp NY during the 2nd quarter valued at approximately $34,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 64.91% of the company’s stock.

Separately, Zacks Investment Research upgraded TrustCo Bank Corp NY from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Wednesday, October 27th.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY is a savings and loan holding company, which through its subsidiary, engages in the provision of banking and financial services to individuals, partnerships, and corporations. It offers checking accounts, savings accounts, retirement accounts, time deposits, money market accounts, and credit cards.

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