TrustCo Bank Corp NY (NASDAQ:TRST) Director Acquires $10,458.00 in Stock

TrustCo Bank Corp NY (NASDAQ:TRST) Director Lisa Lucarelli bought 200 shares of TrustCo Bank Corp NY stock in a transaction dated Thursday, June 4th. The shares were bought at an average price of $52.29 per share, for a total transaction of $10,458.00. Following the completion of the transaction, the director directly owned 100 shares of the company’s stock, valued at $5,229. This represents a -200.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

TrustCo Bank Corp NY Trading Up 1.4%

Shares of TRST stock opened at $54.69 on Thursday. TrustCo Bank Corp NY has a 1 year low of $30.52 and a 1 year high of $55.00. The firm’s 50 day moving average is $48.42 and its 200-day moving average is $45.22. The firm has a market capitalization of $955.98 million, a price-to-earnings ratio of 16.04 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%. The company had revenue of $49.55 million for the quarter.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, June 5th. TrustCo Bank Corp NY’s dividend payout ratio is currently 44.57%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock valued at $26,000 after buying an additional 755 shares during the period. Hantz Financial Services Inc. increased its stake in TrustCo Bank Corp NY by 108.1% in the third quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after purchasing an additional 453 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in TrustCo Bank Corp NY in the fourth quarter valued at approximately $46,000. Godfrey Financial Associates Inc. bought a new stake in TrustCo Bank Corp NY in the fourth quarter valued at approximately $56,000. Finally, Russell Investments Group Ltd. increased its stake in TrustCo Bank Corp NY by 48.4% in the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock valued at $62,000 after purchasing an additional 555 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.