TrustCo Bank Corp NY (NASDAQ:TRST) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.

TrustCo Bank Corp NY (NASDAQ:TRST) traded up 1.94% during trading on Monday, reaching $7.90. 299,069 shares of the company’s stock were exchanged. The stock has a market cap of $759.20 million, a PE ratio of 16.92 and a beta of 1.17. The firm has a 50 day moving average of $7.87 and a 200-day moving average of $7.92. TrustCo Bank Corp NY has a 12 month low of $6.60 and a 12 month high of $9.00.

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. TrustCo Bank Corp NY had a return on equity of 10.24% and a net margin of 24.58%. The firm had revenue of $43.05 million for the quarter. During the same period in the prior year, the company posted $0.11 earnings per share. On average, equities research analysts anticipate that TrustCo Bank Corp NY will post $0.49 earnings per share for the current fiscal year.

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In other news, Director William D. Powers sold 20,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $8.00, for a total value of $160,000.00. Following the sale, the director now directly owns 90,651 shares of the company’s stock, valued at $725,208. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp bought a new stake in TrustCo Bank Corp NY during the first quarter worth approximately $589,000. Comerica Bank boosted its stake in TrustCo Bank Corp NY by 3.9% in the first quarter. Comerica Bank now owns 105,651 shares of the bank’s stock worth $856,000 after buying an additional 3,999 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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. Great West Life Assurance Co. Can boosted its stake in TrustCo Bank Corp NY by 8.6% in the first quarter. Great West Life Assurance Co. Can now owns 142,036 shares of the bank’s stock worth $1,115,000 after buying an additional 11,300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in TrustCo Bank Corp NY by 10.6% in the first quarter. Wells Fargo & Company MN now owns 113,841 shares of the bank’s stock worth $893,000 after buying an additional 10,873 shares in the last quarter. 57.17% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Company Profile

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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