Sandler O’Neill set a $10.00 target price on TrustCo Bank Corp NY (NASDAQ:TRST) in a report published on Wednesday morning. The brokerage currently has a hold rating on the bank’s stock.
Several other equities analysts have also recently commented on TRST. Canaccord Genuity reaffirmed a speculative buy rating and issued a $7.25 price target on shares of TrustCo Bank Corp NY in a report on Wednesday, October 18th. BidaskClub cut TrustCo Bank Corp NY from a buy rating to a hold rating in a report on Thursday, December 7th.
TrustCo Bank Corp NY (TRST) traded up $0.10 during trading on Wednesday, reaching $8.85. The company’s stock had a trading volume of 353,510 shares, compared to its average volume of 313,110. The firm has a market cap of $850.56, a PE ratio of 18.44 and a beta of 1.19. TrustCo Bank Corp NY has a 12-month low of $7.25 and a 12-month high of $9.70.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $44.03 million during the quarter. TrustCo Bank Corp NY had a return on equity of 10.51% and a net margin of 25.16%. During the same period last year, the company earned $0.11 EPS.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a $65625.00 dividend. The ex-dividend date was Thursday, November 30th. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $262,500.00 dividend on an annualized basis and a dividend yield of 2,966,101.69%. TrustCo Bank Corp NY’s dividend payout ratio is presently 54.17%.
In other news, Director William D. Powers sold 5,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was 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 can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of TRST. Dimensional Fund Advisors LP raised its holdings in shares of TrustCo Bank Corp NY by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,437,559 shares of the bank’s stock worth $42,141,000 after buying an additional 247,305 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of TrustCo Bank Corp NY by 36.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 930,437 shares of the bank’s stock worth $8,468,000 after buying an additional 247,130 shares in the last quarter. Systematic Financial Management LP grew its position in TrustCo Bank Corp NY by 27.6% during the 3rd quarter. Systematic Financial Management LP now owns 945,491 shares of the bank’s stock worth $8,415,000 after acquiring an additional 204,471 shares during the last quarter. Ameriprise Financial Inc. grew its position in TrustCo Bank Corp NY by 18.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 722,942 shares of the bank’s stock worth $5,604,000 after acquiring an additional 115,088 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in TrustCo Bank Corp NY during the 2nd quarter worth approximately $774,000. 58.71% of the stock is owned by institutional investors and hedge funds.
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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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