TrustCo Bank Corp NY (NASDAQ:TRST) General Counsel Michael James Hall Buys 463 Shares of Stock

TrustCo Bank Corp NY (NASDAQ:TRSTGet Free Report) General Counsel Michael James Hall acquired 463 shares of the stock in a transaction on Friday, February 2nd. The shares were purchased at an average price of $27.81 per share, with a total value of $12,876.03. Following the completion of the transaction, the general counsel now owns 9,040 shares of the company’s stock, valued at $251,402.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TrustCo Bank Corp NY Stock Performance

NASDAQ TRST opened at $27.40 on Wednesday. The firm’s fifty day moving average price is $29.76 and its two-hundred day moving average price is $28.52. The stock has a market cap of $521.15 million, a PE ratio of 8.90 and a beta of 0.86. TrustCo Bank Corp NY has a fifty-two week low of $23.78 and a fifty-two week high of $37.80.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Free Report) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.14). The company had revenue of $63.11 million for the quarter, compared to the consensus estimate of $44.90 million. TrustCo Bank Corp NY had a return on equity of 9.36% and a net margin of 23.98%. During the same period in the previous year, the firm posted $1.10 EPS. As a group, sell-side analysts predict that TrustCo Bank Corp NY will post 2.54 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.26%. TrustCo Bank Corp NY’s payout ratio is presently 46.75%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd.

Read Our Latest Research Report on TRST

Institutional Trading of TrustCo Bank Corp NY

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth $28,000. Geneos Wealth Management Inc. bought a new stake in shares of TrustCo Bank Corp NY in the first quarter worth $30,000. Lazard Asset Management LLC bought a new stake in shares of TrustCo Bank Corp NY in the first quarter worth $34,000. Captrust Financial Advisors boosted its position in TrustCo Bank Corp NY by 104.4% during the first quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock valued at $36,000 after acquiring an additional 569 shares during the last quarter. Finally, FMR LLC boosted its position in TrustCo Bank Corp NY by 49.2% during the first quarter. FMR LLC now owns 1,216 shares of the bank’s stock valued at $39,000 after acquiring an additional 401 shares during the last quarter. Institutional investors own 67.80% of the company’s stock.

About TrustCo Bank Corp NY

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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