GMP Securities reiterated their hold rating on shares of TrustCo Bank Corp NY (NASDAQ:TRST) in a research report sent to investors on Thursday, AnalystRatings.com reports. The brokerage currently has a $6.00 target price on the bank’s stock.
Separately, BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th.
TRST stock opened at $8.15 on Thursday. TrustCo Bank Corp NY has a 1 year low of $6.51 and a 1 year high of $9.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $7.67. The stock has a market cap of $789.10 million, a price-to-earnings ratio of 12.73 and a beta of 1.11.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, April 22nd. The bank reported $0.15 earnings per share (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 company had revenue of $44.37 million during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $0.0681 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Thursday, June 6th.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 10,850 shares of the stock in a transaction 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 transaction, the director now owns 54,800 shares of the company’s stock, valued at approximately $411,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.
Several institutional investors have recently modified their holdings of TRST. Capital Financial Planning LLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth $58,000. Hsbc Holdings PLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth $76,000. Magnus Financial Group LLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth $83,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of TrustCo Bank Corp NY by 21.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,851 shares of the bank’s stock worth $100,000 after purchasing an additional 2,278 shares during the period. Finally, Laurion Capital Management LP purchased a new position in shares of TrustCo Bank Corp NY during the 1st quarter worth $108,000. 62.35% of the stock is currently owned by institutional investors.
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, 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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