GMP Securities Reaffirms “Hold” Rating for TrustCo Bank Corp NY (NASDAQ:TRST)
GMP Securities restated their hold rating on shares of TrustCo Bank Corp NY (NASDAQ:TRST) in a report issued on Thursday morning, AnalystRatings.com reports. GMP Securities currently has a $6.00 target price on the bank’s stock.
Separately, BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th.
NASDAQ TRST opened at $8.15 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. TrustCo Bank Corp NY has a 52-week low of $6.51 and a 52-week high of $9.45. The business’s 50-day moving average is $7.67. The stock has a market capitalization of $789.10 million, a price-to-earnings ratio of 12.73 and a beta of 1.11.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a $0.0681 dividend. This represents a $0.27 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, June 6th.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 10,850 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $7.50, for a total value of $81,375.00. Following the sale, the director now owns 54,800 shares of the company’s stock, valued at approximately $411,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund bought a new stake in TrustCo Bank Corp NY in the 4th quarter valued at about $252,000. BlackRock Inc. raised its stake in TrustCo Bank Corp NY by 2.3% in the 4th quarter. BlackRock Inc. now owns 14,132,287 shares of the bank’s stock valued at $96,947,000 after acquiring an additional 312,716 shares during the period. Bank of New York Mellon Corp raised its stake in TrustCo Bank Corp NY by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,435,855 shares of the bank’s stock valued at $9,849,000 after acquiring an additional 21,958 shares during the period. Texas Permanent School Fund raised its stake in TrustCo Bank Corp NY by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 63,253 shares of the bank’s stock valued at $434,000 after acquiring an additional 2,509 shares during the period. Finally, Bessemer Group Inc. raised its stake in TrustCo Bank Corp NY by 8.9% in the 4th quarter. Bessemer Group Inc. now owns 90,200 shares of the bank’s stock valued at $619,000 after acquiring an additional 7,400 shares during the period. 62.35% of the stock is currently owned by institutional investors.
TrustCo Bank Corp NY Company Profile
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 is primarily involved in accepting deposits, and making 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.
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