TrustCo Bank Corp NY (NASDAQ:TRST) Stock Rating Upgraded by StockNews.com

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

TrustCo Bank Corp NY Price Performance

Shares of TrustCo Bank Corp NY stock opened at $27.30 on Tuesday. TrustCo Bank Corp NY has a 1 year low of $23.78 and a 1 year high of $32.10. The firm’s 50-day moving average is $27.29 and its two-hundred day moving average is $28.04. The stock has a market cap of $519.25 million, a price-to-earnings ratio of 9.78 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.14). TrustCo Bank Corp NY had a return on equity of 8.41% and a net margin of 21.17%. The business had revenue of $63.11 million for the quarter, compared to the consensus estimate of $44.90 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, equities analysts expect that TrustCo Bank Corp NY will post 2.54 earnings per share for the current year.

Insider Activity at TrustCo Bank Corp NY

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

Institutional Investors Weigh In On TrustCo Bank Corp NY

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in TrustCo Bank Corp NY by 911.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 110,749 shares of the bank’s stock worth $3,022,000 after purchasing an additional 99,804 shares during the last quarter. Swiss National Bank boosted its stake in TrustCo Bank Corp NY by 1.7% during the 3rd quarter. Swiss National Bank now owns 41,820 shares of the bank’s stock worth $1,141,000 after purchasing an additional 700 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in TrustCo Bank Corp NY by 39,333.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after purchasing an additional 5,900 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of TrustCo Bank Corp NY by 19.5% during the 3rd quarter. AQR Capital Management LLC now owns 192,719 shares of the bank’s stock valued at $5,259,000 after acquiring an additional 31,483 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of TrustCo Bank Corp NY by 33.8% during the 3rd quarter. Trexquant Investment LP now owns 34,893 shares of the bank’s stock valued at $952,000 after acquiring an additional 8,821 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

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 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.