TrustCo Bank Corp NY (TRST) Downgraded to Hold at BidaskClub
BidaskClub lowered shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a buy rating to a hold rating in a report published on Thursday.
Separately, Canaccord Genuity reiterated a speculative buy rating and issued a $7.25 price target on shares of TrustCo Bank Corp NY in a research report on Wednesday, October 18th.
Shares of TrustCo Bank Corp NY (NASDAQ:TRST) opened at $9.05 on Thursday. TrustCo Bank Corp NY has a 12-month low of $7.25 and a 12-month high of $9.70. The company has a market cap of $869.77, a price-to-earnings ratio of 18.85 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $65625.00 dividend. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $262,500.00 annualized dividend and a yield of 2,900,552.49%. The ex-dividend date is Thursday, November 30th. TrustCo Bank Corp NY’s payout ratio is currently 54.17%.
In other news, Director William D. Powers sold 5,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.52, for a total transaction of $47,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. CAPROCK Group Inc. acquired a new position in shares of TrustCo Bank Corp NY during the 3rd quarter worth $106,000. Allianz Asset Management GmbH purchased a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter worth about $105,000. Essex Financial Services Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter worth about $108,000. SG Americas Securities LLC purchased a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter worth about $140,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter worth about $136,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.
TrustCo Bank Corp NY Company Profile
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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