Insider Buying: TrustCo Bank Corp NY (NASDAQ:TRST) Executive Vice President Buys 580 Shares
TrustCo Bank Corp NY (NASDAQ: TRST – Get a rating) EVP Kevin M. Curley bought 580 shares of TrustCo Bank Corp NY in a trade that took place on Monday, June 13. The shares were purchased at an average cost of $30.10 per share, with a total value of $17,458.00. Following the acquisition, the executive vice president now directly owns 28,198 shares of the company, valued at approximately $848,759.80. The purchase was disclosed in a filing with the SEC, accessible via the SEC website.
Shares of TrustCo Bank Corp NY were up $0.20 midday Tuesday, hitting $30.29. The company’s stock had a trading volume of 70,439 shares, compared to an average volume of 68,593. TrustCo Bank Corp NY has a 1-year low of $29.78 and a 1-year high of $37.12. The company has a 50-day moving average price of $31.35 and a two-hundred-day moving average price of $32.75. The company has a market capitalization of $581.48 million, a price-earnings ratio of 8.96 and a beta of 0.98.
TrustCo Bank Corp NY (NASDAQ: TRST – Get a rating) last released its quarterly earnings data on Thursday, April 21. The bank reported earnings per share of $0.89 for the quarter, beating the consensus estimate of $0.69 by $0.20. TrustCo Bank Corp NY posted a net margin of 34.79% and a return on equity of 10.94%. The company posted revenue of $45.28 million in the quarter, compared to $44.48 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.75. As a group, equity research analysts expect TrustCo Bank Corp NY to post earnings per share of 3.35 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 3 will receive a dividend of $0.35. This represents an annualized dividend of $1.40 and a yield of 4.62%. The ex-dividend date is Thursday, June 2. The dividend payout ratio (DPR) of TrustCo Bank Corp NY is 41.67%.
Separately, StockNews.com moved shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating in a Thursday, June 9 report.
A number of institutional investors have recently changed their stake in the company. California State Teachers Retirement System increased its stake in TrustCo Bank Corp NY by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 26,478 shares of the bank worth $882,000 after buying 555 additional shares in the last quarter. Captrust Financial Advisors raised its position in shares of TrustCo Bank Corp NY by 104.4% in the 1st quarter. Captrust Financial Advisors now owns 1,114 shares of the bank valued at $36,000 after buying an additional 569 shares last quarter. Deutsche Bank AG increased its position in shares of TrustCo Bank Corp NY by 5.6% in the 4th quarter. Deutsche Bank AG now owns 11,474 shares of the bank valued at $382,000 after buying an additional 610 shares last quarter. Voya Investment Management LLC raised its position in shares of TrustCo Bank Corp NY by 2.3% in the third quarter. Voya Investment Management LLC now owns 29,985 shares of the bank valued at $959,000 after buying an additional 662 shares last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of TrustCo Bank Corp NY by 12.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,279 shares of the bank valued at $265,000 after buying 892 additional shares last quarter. Institutional investors and hedge funds hold 64.08% of the company’s shares.
About TrustCo Bank Corp NY (Get a rating)
TrustCo Bank Corp NY operates as the holding company of Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships and corporations. 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 mortgages and mortgage-backed securities.
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