Insider Buying: TrustCo Bank Corp. CEO Buys 3,753 Shares of Stock (TRST)
TrustCo Bank Corp. (NASDAQ:TRST) CEO Robert J. Mccormick purchased 3,753 shares of TrustCo Bank Corp. stock on the open market in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $6.66 per share, for a total transaction of $24,994.98. Following the purchase, the chief executive officer now directly owns 710,925 shares of the company’s stock, valued at approximately $4,734,761. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, analysts at Sandler O’Neill downgraded shares of TrustCo Bank Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday.
TrustCo Bank Corp. (NASDAQ:TRST) traded down 4.13% during mid-day trading on Wednesday, hitting $6.50. The stock had a trading volume of 547,118 shares. TrustCo Bank Corp. has a 52-week low of $5.29 and a 52-week high of $7.67. The stock’s 50-day moving average is $6.67 and its 200-day moving average is $6.87. The company has a market cap of $615.3 million and a price-to-earnings ratio of 15.37.
TrustCo Bank Corp. (NASDAQ:TRST) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. During the same quarter last year, the company posted $0.10 earnings per share. On average, analysts predict that TrustCo Bank Corp. will post $0.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a dividend of $0.0656 per share. This represents a $0.26 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, June 4th.
TrustCo Bank Corp NY (NASDAQ:TRST) is a savings and loan holding company.
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