TrustCo Bank Corp NY (TRST) Stock Rating Upgraded by BidaskClub
TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.
Shares of TrustCo Bank Corp NY (TRST) opened at 7.90 on Friday. The firm has a 50-day moving average of $7.90 and a 200 day moving average of $7.90. TrustCo Bank Corp NY has a 1-year low of $6.60 and a 1-year high of $9.00. The stock has a market cap of $759.20 million, a price-to-earnings ratio of 16.92 and a beta of 1.17.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $43.05 million during the quarter. TrustCo Bank Corp NY had a net margin of 24.58% and a return on equity of 10.24%. During the same quarter last year, the business earned $0.11 earnings per share. Equities research analysts forecast that TrustCo Bank Corp NY will post $0.49 earnings per share for the current year.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now directly owns 90,651 shares of the company’s stock, valued at approximately $725,208. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in TrustCo Bank Corp NY by 0.3% in the second quarter. BlackRock Inc. now owns 11,714,992 shares of the bank’s stock worth $90,792,000 after buying an additional 40,466 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TrustCo Bank Corp NY by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,437,559 shares of the bank’s stock worth $42,141,000 after buying an additional 247,305 shares in the last quarter. Vanguard Group Inc. raised its position in TrustCo Bank Corp NY by 0.4% in the second quarter. Vanguard Group Inc. now owns 5,207,992 shares of the bank’s stock worth $40,362,000 after buying an additional 22,345 shares in the last quarter. State Street Corp raised its position in TrustCo Bank Corp NY by 2.8% in the second quarter. State Street Corp now owns 2,282,320 shares of the bank’s stock worth $17,691,000 after buying an additional 62,351 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in TrustCo Bank Corp NY by 11.9% in the first quarter. Bank of New York Mellon Corp now owns 1,452,245 shares of the bank’s stock worth $11,399,000 after buying an additional 154,057 shares in the last quarter. 57.17% of the stock is owned by institutional investors.
About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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