TrustCo Bank Corp NY (NASDAQ:TRST) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a hold rating to a sell rating in a research report released on Wednesday.

TrustCo Bank Corp NY Stock Up 1.2 %

TrustCo Bank Corp NY stock opened at $27.93 on Wednesday. The firm has a 50 day moving average price of $27.17 and a 200-day moving average price of $28.04. TrustCo Bank Corp NY has a twelve month low of $23.78 and a twelve month high of $32.10. The company has a market capitalization of $531.23 million, a P/E ratio of 10.01 and a beta of 0.84.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.36 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. TrustCo Bank Corp NY’s payout ratio is presently 51.61%.

Insider Transactions at TrustCo Bank Corp NY

In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in TrustCo Bank Corp NY in the 4th quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its stake in TrustCo Bank Corp NY by 26.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after buying an additional 378 shares during the period. Quest Partners LLC purchased a new position in TrustCo Bank Corp NY during the fourth quarter worth about $144,000. Nisa Investment Advisors LLC grew its position in TrustCo Bank Corp NY by 39,333.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after buying an additional 5,900 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in TrustCo Bank Corp NY in the 4th quarter worth about $218,000. Institutional investors own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

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 and businesses. The company accepts deposits; and offers 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.