TrustCo Bank Corp NY (NASDAQ:TRST) has been given a $10.00 price objective by research analysts at Sandler O’Neill in a research note issued on Wednesday. The firm currently has a “hold” rating on the bank’s stock. Sandler O’Neill’s price target would suggest a potential upside of 10.50% from the company’s previous close.
A number of other brokerages have also commented on TRST. Canaccord Genuity boosted their price objective on shares of TrustCo Bank Corp NY from $7.25 to $9.50 in a report on Monday, December 4th. BidaskClub lowered shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Thursday, December 7th.
Shares of TrustCo Bank Corp NY (NASDAQ TRST) traded up $0.15 during mid-day trading on Wednesday, reaching $9.05. 648,032 shares of the company’s stock were exchanged, compared to its average volume of 585,200. TrustCo Bank Corp NY has a 52-week low of $7.25 and a 52-week high of $9.70. The firm has a market cap of $869.72, a price-to-earnings ratio of 18.47 and a beta of 1.19.
In other news, Director William D. Powers sold 5,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $9.52, for a total value of $47,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. CAPROCK Group Inc. acquired a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at about $106,000. Allianz Asset Management GmbH acquired a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at about $105,000. SG Americas Securities LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at about $140,000. Susquehanna International Group LLP acquired a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter valued at about $136,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at about $166,000. Institutional investors and hedge funds own 58.71% of the company’s stock.
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About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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