TrustCo Bank Corp NY (NASDAQ:TRST) Shares Gap Down to $27.90

TrustCo Bank Corp NY (NASDAQ:TRST) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.90, but opened at $27.14. TrustCo Bank Corp NY shares last traded at $27.29, with a volume of 4,948 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research report on Tuesday.

TrustCo Bank Corp NY Stock Down 0.9 %

The company has a 50-day moving average price of $27.26 and a two-hundred day moving average price of $28.03. The stock has a market capitalization of $514.68 million, a P/E ratio of 9.70 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.14). The company had revenue of $63.11 million during the quarter, compared to the consensus estimate of $44.90 million. TrustCo Bank Corp NY had a return on equity of 8.35% and a net margin of 21.17%. During the same quarter last year, the company posted $1.10 earnings per share. On average, sell-side analysts expect that TrustCo Bank Corp NY will post 2.38 earnings per share for the current year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 51.61%.

Insider Buying and Selling

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

Institutional Trading of TrustCo Bank Corp NY

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in TrustCo Bank Corp NY by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock worth $36,836,000 after buying an additional 33,892 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of TrustCo Bank Corp NY by 10.7% during the third quarter. American Century Companies Inc. now owns 202,684 shares of the bank’s stock valued at $5,531,000 after purchasing an additional 19,523 shares during the period. AQR Capital Management LLC boosted its stake in shares of TrustCo Bank Corp NY by 19.5% during the third quarter. AQR Capital Management LLC now owns 192,719 shares of the bank’s stock valued at $5,259,000 after purchasing an additional 31,483 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of TrustCo Bank Corp NY by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 153,524 shares of the bank’s stock valued at $4,190,000 after purchasing an additional 7,143 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of TrustCo Bank Corp NY by 33.4% during the third quarter. Brandywine Global Investment Management LLC now owns 131,019 shares of the bank’s stock valued at $3,576,000 after purchasing an additional 32,817 shares during the period. Hedge funds and other 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.