StockNews.com Downgrades TrustCo Bank Corp NY (NASDAQ:TRST) to Sell

StockNews.com lowered shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

TrustCo Bank Corp NY Stock Up 2.7 %

NASDAQ:TRST opened at $27.35 on Wednesday. TrustCo Bank Corp NY has a 52 week low of $23.78 and a 52 week high of $32.10. The company has a market capitalization of $520.20 million, a P/E ratio of 9.80 and a beta of 0.84. The stock’s fifty day moving average is $27.18 and its two-hundred day moving average is $28.04.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.36 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.27%. TrustCo Bank Corp NY’s dividend payout ratio is currently 51.61%.

Insider Buying and Selling at TrustCo Bank Corp NY

In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of TrustCo Bank Corp NY stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired 1,879 shares of company stock worth $51,583 over the last quarter. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $28,000. Allspring Global Investments Holdings LLC raised its holdings in shares of TrustCo Bank Corp NY by 26.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after buying an additional 378 shares during the period. Quest Partners LLC purchased a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $144,000. Nisa Investment Advisors LLC raised its holdings in shares of TrustCo Bank Corp NY by 39,333.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock valued at $184,000 after buying an additional 5,900 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $218,000. Hedge funds and other institutional investors 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.