TrustCo Bank Corp NY (NASDAQ:TRST) CFO Michael M. Ozimek Acquires 1,900 Shares of Stock

TrustCo Bank Corp NY (NASDAQ:TRST) CFO Michael M. Ozimek acquired 1,900 shares of TrustCo Bank Corp NY stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $27.74 per share, for a total transaction of $52,706.00. Following the completion of the transaction, the chief financial officer now directly owns 24,982 shares of the company’s stock, valued at $693,000.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

TrustCo Bank Corp NY Stock Down 1.4 %

Shares of TrustCo Bank Corp NY stock opened at $27.62 on Friday. TrustCo Bank Corp NY has a fifty-two week low of $26.99 and a fifty-two week high of $39.36. The business’s fifty day moving average is $29.20 and its two-hundred day moving average is $30.13. The firm has a market cap of $525.33 million, a PE ratio of 7.08 and a beta of 0.91.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, July 25th. The bank reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.01. The firm had revenue of $60.68 million for the quarter, compared to the consensus estimate of $49.58 million. TrustCo Bank Corp NY had a return on equity of 12.27% and a net margin of 32.40%. During the same period in the prior year, the business posted $0.93 earnings per share. Equities research analysts anticipate that TrustCo Bank Corp NY will post 3.28 EPS for the current year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.21%. The ex-dividend date is Thursday, August 31st. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 36.92%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

A number of hedge funds have recently made changes to their positions in TRST. Bank of New York Mellon Corp boosted its holdings in TrustCo Bank Corp NY by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 238,590 shares of the bank’s stock valued at $7,619,000 after acquiring an additional 1,909 shares during the last quarter. American Century Companies Inc. increased its position in TrustCo Bank Corp NY by 31.5% during the 1st quarter. American Century Companies Inc. now owns 79,437 shares of the bank’s stock worth $2,536,000 after purchasing an additional 19,006 shares in the last quarter. Citigroup Inc. raised its holdings in TrustCo Bank Corp NY by 10.1% in the first quarter. Citigroup Inc. now owns 17,218 shares of the bank’s stock valued at $550,000 after buying an additional 1,582 shares during the period. PNC Financial Services Group Inc. lifted its position in TrustCo Bank Corp NY by 12.1% during the first quarter. PNC Financial Services Group Inc. now owns 8,279 shares of the bank’s stock valued at $265,000 after buying an additional 892 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TrustCo Bank Corp NY during the first quarter worth approximately $1,102,000. Institutional investors and hedge funds own 67.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Friday, August 25th.

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.