TrustCo Bank Corp NY (NASDAQ:TRST) Stock Rating Reaffirmed by GMP Securities

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TrustCo Bank Corp NY (NASDAQ:TRST)‘s stock had its “hold” rating restated by research analysts at GMP Securities in a research report issued on Thursday, AnalystRatings.com reports. They currently have a $6.00 target price on the bank’s stock. GMP Securities’ price target indicates a potential downside of 26.38% from the stock’s previous close.

Separately, BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th.

Shares of TRST opened at $8.15 on Thursday. The company has a market cap of $776.52 million, a price-to-earnings ratio of 12.53 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. TrustCo Bank Corp NY has a fifty-two week low of $6.51 and a fifty-two week high of $9.45. The business has a 50 day simple moving average of $7.67.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The business had revenue of $44.37 million during the quarter. TrustCo Bank Corp NY had a return on equity of 12.62% and a net margin of 30.17%.

In related news, Director William D. Powers sold 10,850 shares of TrustCo Bank Corp NY stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $7.50, for a total value of $81,375.00. Following the transaction, the director now directly owns 54,800 shares of the company’s stock, valued at $411,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.64% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TRST. Capital Financial Planning LLC purchased a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth $58,000. Hsbc Holdings PLC purchased a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth $76,000. Magnus Financial Group LLC purchased a new position in TrustCo Bank Corp NY during the 4th quarter valued at $83,000. Northwestern Mutual Wealth Management Co. increased its position in TrustCo Bank Corp NY by 21.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,851 shares of the bank’s stock valued at $100,000 after purchasing an additional 2,278 shares during the period. Finally, Laurion Capital Management LP purchased a new position in TrustCo Bank Corp NY during the 1st quarter valued at $108,000. 62.35% of the stock is currently owned by institutional investors.

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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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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