Insider Buying: TrustCo Bank Corp NY (NASDAQ:TRST) EVP Buys 580 Shares of Stock
TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) EVP Kevin M. Curley bought 580 shares of TrustCo Bank Corp NY stock in a transaction that occurred on Monday, June 13th. The shares were bought 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 in the company, valued at approximately $848,759.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
TrustCo Bank Corp NY stock traded up $0.20 during midday trading on Tuesday, hitting $30.29. The company’s stock had a trading volume of 70,439 shares, compared to its 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 cap of $581.48 million, a price-to-earnings ratio of 8.96 and a beta of 0.98.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.20. TrustCo Bank Corp NY had a net margin of 34.79% and a return on equity of 10.94%. The business had revenue of $45.28 million during the quarter, compared to analysts’ expectations of $44.48 million. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, equities research analysts forecast that TrustCo Bank Corp NY will post 3.35 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, June 2nd. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 41.67%.
Separately, StockNews.com raised shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating in a report on Thursday, June 9th.
A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in TrustCo Bank Corp NY by 2.1% in the 4th quarter. California State Teachers Retirement System now owns 26,478 shares of the bank’s stock worth $882,000 after purchasing an additional 555 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’s stock valued at $36,000 after buying an additional 569 shares in the last quarter. Deutsche Bank AG raised 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’s stock valued at $382,000 after buying an additional 610 shares in the last quarter. Voya Investment Management LLC raised its position in shares of TrustCo Bank Corp NY by 2.3% in the 3rd quarter. Voya Investment Management LLC now owns 29,985 shares of the bank’s stock valued at $959,000 after buying an additional 662 shares in the 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’s stock valued at $265,000 after buying an additional 892 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.
About TrustCo Bank Corp NY (Get Rating)
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, 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 mortgage loans and mortgage-backed securities.
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