TrustCo Bank Corp NY (TRST) Stock Rating Upgraded by BidaskClub

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

TrustCo Bank Corp NY stock traded down $0.24 during mid-day trading on Thursday, hitting $7.75. The company had a trading volume of 425,449 shares, compared to its average volume of 310,841. The firm has a market capitalization of $820.60 million, a P/E ratio of 14.91 and a beta of 1.01. TrustCo Bank Corp NY has a 1 year low of $7.66 and a 1 year high of $9.70.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $44.60 million for the quarter. TrustCo Bank Corp NY had a net margin of 26.07% and a return on equity of 11.98%.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of TrustCo Bank Corp NY in the first quarter valued at approximately $138,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of TrustCo Bank Corp NY in the second quarter valued at approximately $182,000. Hartford Investment Management Co. acquired a new stake in shares of TrustCo Bank Corp NY in the second quarter valued at approximately $213,000. Barclays PLC boosted its holdings in shares of TrustCo Bank Corp NY by 54.3% in the first quarter. Barclays PLC now owns 33,115 shares of the bank’s stock valued at $280,000 after acquiring an additional 11,659 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of TrustCo Bank Corp NY by 32.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the bank’s stock valued at $308,000 after acquiring an additional 8,516 shares during the period. 62.02% of the stock is owned by institutional investors and hedge funds.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY operates as the holding company for Trustco 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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