TrustCo Bank Corp NY (NASDAQ:TRST) Stock Rating Upgraded by StockNews.com

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

TrustCo Bank Corp NY Stock Down 2.2 %

Shares of TRST opened at $27.30 on Tuesday. The stock has a market cap of $519.25 million, a price-to-earnings ratio of 9.78 and a beta of 0.84. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $32.10. The company has a 50-day moving average price of $27.29 and a two-hundred day moving average price of $28.04.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.14). The business 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 8.41% and a net margin of 21.17%. During the same quarter in the prior year, the business earned $1.10 EPS. Equities research analysts expect that TrustCo Bank Corp NY will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric W. Schreck bought 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $28.44 per share, for a total transaction of $28,440.00. Following the completion of the purchase, the executive vice president now owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Kevin M. Curley acquired 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the transaction, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at approximately $949,111.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric W. Schreck acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $28.44 per share, with a total value of $28,440.00. Following the transaction, the executive vice president now directly owns 41,407 shares in the company, valued at $1,177,615.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,879 shares of company stock worth $80,023. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRST. GAMMA Investing LLC bought a new position in TrustCo Bank Corp NY in the 4th quarter worth approximately $28,000. Quest Partners LLC bought a new position in TrustCo Bank Corp NY in the 4th quarter worth approximately $144,000. Nisa Investment Advisors LLC grew its holdings in TrustCo Bank Corp NY by 39,333.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after acquiring an additional 5,900 shares during the period. Advisor Partners II LLC acquired a new stake in TrustCo Bank Corp NY during the 3rd quarter worth $201,000. Finally, Maryland State Retirement & Pension System acquired a new stake in TrustCo Bank Corp NY during the 4th quarter worth $218,000. Institutional investors own 68.57% 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 and businesses. 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.