GMP Securities Reaffirms “Hold” Rating for TrustCo Bank Corp NY (NASDAQ:TRST)

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GMP Securities reissued their hold rating on shares of TrustCo Bank Corp NY (NASDAQ:TRST) in a research report report published on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $6.00 price objective on the bank’s stock.

Separately, BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th.

Shares of TrustCo Bank Corp NY stock opened at $8.15 on Thursday. The firm’s 50 day moving average price is $7.67. TrustCo Bank Corp NY has a 12 month low of $6.51 and a 12 month high of $9.45. The firm has a market capitalization of $789.10 million, a PE ratio of 12.73 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, April 22nd. The bank reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). TrustCo Bank Corp NY had a net margin of 30.17% and a return on equity of 12.62%. The firm had revenue of $44.37 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $0.0681 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.34%.

In other TrustCo Bank Corp NY news, Director William D. Powers sold 10,850 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $7.50, for a total transaction of $81,375.00. Following the completion of the transaction, the director now owns 54,800 shares of the company’s stock, valued at $411,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of TRST. Exane Derivatives acquired a new stake in TrustCo Bank Corp NY in the second quarter valued at $253,000. WINTON GROUP Ltd acquired a new stake in TrustCo Bank Corp NY in the second quarter valued at $125,000. AJO LP acquired a new stake in TrustCo Bank Corp NY in the first quarter valued at $514,000. Northwestern Mutual Wealth Management Co. raised its stake in TrustCo Bank Corp NY by 21.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 12,851 shares of the bank’s stock valued at $100,000 after buying an additional 2,278 shares in the last quarter. Finally, Magnus Financial Group LLC raised its stake in TrustCo Bank Corp NY by 59.8% in the first quarter. Magnus Financial Group LLC now owns 19,228 shares of the bank’s stock valued at $149,000 after buying an additional 7,194 shares in the last quarter. Institutional investors and hedge funds own 62.35% of the company’s stock.

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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