TrustCo Bank Corp NY (NASDAQ:TRST) Downgraded by ValuEngine

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TrustCo Bank Corp NY (NASDAQ:TRST) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

TRST has been the topic of several other reports. GMP Securities reaffirmed a “hold” rating and set a $6.00 price objective on shares of TrustCo Bank Corp NY in a research note on Thursday, July 11th. BidaskClub cut shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

TrustCo Bank Corp NY stock traded up $0.24 during trading hours on Tuesday, hitting $8.53. 484,850 shares of the stock were exchanged, compared to its average volume of 244,160. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $818.41 million, a P/E ratio of 12.94 and a beta of 1.10. TrustCo Bank Corp NY has a 12 month low of $6.51 and a 12 month high of $8.64. The business’s 50-day moving average is $8.06 and its two-hundred day moving average is $7.88.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $43.57 million for the quarter. TrustCo Bank Corp NY had a net margin of 29.19% and a return on equity of 12.19%.

In other news, Director Anthony J. Md Phd Marinello acquired 5,072 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $7.60 per share, with a total value of $38,547.20. Following the completion of the purchase, the director now owns 91,161 shares of the company’s stock, valued at $692,823.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 7,400 shares of company stock worth $57,422 over the last ninety days. Insiders own 2.64% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRST. Brinker Capital Inc. increased its stake in TrustCo Bank Corp NY by 4.1% in the 3rd quarter. Brinker Capital Inc. now owns 30,997 shares of the bank’s stock valued at $253,000 after buying an additional 1,207 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in TrustCo Bank Corp NY in the 3rd quarter valued at $924,000. State of Alaska Department of Revenue increased its stake in TrustCo Bank Corp NY by 126.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 74,448 shares of the bank’s stock valued at $606,000 after buying an additional 41,522 shares during the last quarter. Royal Bank of Canada increased its stake in TrustCo Bank Corp NY by 68.9% in the 2nd quarter. Royal Bank of Canada now owns 102,188 shares of the bank’s stock valued at $809,000 after buying an additional 41,682 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in TrustCo Bank Corp NY in the 2nd quarter valued at $290,000. 63.50% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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