TrustCo Bank Corp NY (TRST) Stock Rating Lowered by BidaskClub
TrustCo Bank Corp NY (NASDAQ:TRST) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Separately, Canaccord Genuity reaffirmed a “speculative buy” rating and issued a $7.25 price objective on shares of TrustCo Bank Corp NY in a research note on Wednesday, October 18th.
Shares of TrustCo Bank Corp NY (NASDAQ:TRST) traded down $0.10 during trading on Thursday, hitting $9.10. 1,266,384 shares of the stock were exchanged, compared to its average volume of 297,319. TrustCo Bank Corp NY has a 12 month low of $7.25 and a 12 month high of $9.70. The stock has a market cap of $893.80, a PE ratio of 19.38 and a beta of 1.19.
TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. TrustCo Bank Corp NY had a net margin of 25.16% and a return on equity of 10.51%. The company had revenue of $44.03 million during the quarter. During the same period last year, the company posted $0.11 EPS.
In other news, Director William D. Powers sold 5,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.52, for a total value of $47,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in TrustCo Bank Corp NY by 0.3% during the 2nd quarter. BlackRock Inc. now owns 11,714,992 shares of the bank’s stock valued at $90,792,000 after buying an additional 40,466 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in TrustCo Bank Corp NY by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,481,084 shares of the bank’s stock valued at $48,782,000 after buying an additional 43,525 shares during the last quarter. Vanguard Group Inc. raised its holdings in TrustCo Bank Corp NY by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,207,992 shares of the bank’s stock valued at $40,362,000 after buying an additional 22,345 shares during the last quarter. State Street Corp raised its holdings in TrustCo Bank Corp NY by 2.8% during the 2nd quarter. State Street Corp now owns 2,282,320 shares of the bank’s stock valued at $17,691,000 after buying an additional 62,351 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in TrustCo Bank Corp NY by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,429,103 shares of the bank’s stock valued at $11,075,000 after buying an additional 16,232 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.
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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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