Michael M. Ozimek Buys 1,000 Shares of TrustCo Bank Corp NY (NASDAQ:TRST) Stock

TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) CFO Michael M. Ozimek bought 1,000 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average price of $35.02 per share, with a total value of $35,020.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,177 shares of the company’s stock, valued at approximately $426,438.54. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

TrustCo Bank Corp NY Stock Performance

TrustCo Bank Corp NY stock opened at $32.59 on Tuesday. The firm has a market cap of $619.86 million, a PE ratio of 8.29 and a beta of 0.92. The firm’s 50 day moving average price is $36.74 and its two-hundred day moving average price is $36.01. TrustCo Bank Corp NY has a twelve month low of $29.50 and a twelve month high of $39.36.

TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The bank reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.11. The firm had revenue of $56.86 million for the quarter, compared to analyst estimates of $52.32 million. TrustCo Bank Corp NY had a net margin of 36.55% and a return on equity of 12.66%. Equities analysts anticipate that TrustCo Bank Corp NY will post 3.87 EPS for the current fiscal year.

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.44 annualized dividend and a yield of 4.42%. TrustCo Bank Corp NY’s dividend payout ratio is presently 36.64%.

Wall Street Analyst Weigh In

TRST has been the subject of a number of research reports. Piper Sandler cut shares of TrustCo Bank Corp NY from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $39.00 to $36.00 in a report on Wednesday, January 25th. StockNews.com cut TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dorsey Wright & Associates bought a new stake in TrustCo Bank Corp NY in the fourth quarter worth approximately $27,000. Geneos Wealth Management Inc. bought a new stake in TrustCo Bank Corp NY in the first quarter worth approximately $30,000. Lazard Asset Management LLC bought a new stake in TrustCo Bank Corp NY in the first quarter worth approximately $34,000. Captrust Financial Advisors grew its position in TrustCo Bank Corp NY by 104.4% in the first quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock worth $36,000 after acquiring an additional 569 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in TrustCo Bank Corp NY in the second quarter worth approximately $54,000. Institutional investors and hedge funds own 65.30% of the company’s stock.

About TrustCo Bank Corp NY

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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. It 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.