Eric W. Schreck Sells 1,760 Shares of TrustCo Bank Corp NY (TRST) Stock

TrustCo Bank Corp NY (NASDAQ:TRST) SVP Eric W. Schreck sold 1,760 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $8.66, for a total transaction of $15,241.60. Following the completion of the transaction, the senior vice president now owns 90,277 shares of the company’s stock, valued at $781,798.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of TrustCo Bank Corp NY (NASDAQ TRST) traded up $0.20 on Thursday, hitting $8.80. 338,800 shares of the company’s stock traded hands, compared to its average volume of 354,327. The firm has a market capitalization of $838.49, a PE ratio of 19.40 and a beta of 1.19. TrustCo Bank Corp NY has a one year low of $7.25 and a one year high of $9.70.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $43.54 million during the quarter. TrustCo Bank Corp NY had a net margin of 23.03% and a return on equity of 10.73%.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a $65625.00 dividend. This represents a $262,500.00 dividend on an annualized basis and a dividend yield of 2,982,954.55%. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, November 30th. TrustCo Bank Corp NY’s dividend payout ratio is 57.78%.

TRST has been the subject of several recent analyst reports. BidaskClub cut shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Canaccord Genuity raised their target price on shares of TrustCo Bank Corp NY from $7.25 to $9.50 in a report on Monday, December 4th. Finally, Sandler O’Neill set a $10.00 target price on shares of TrustCo Bank Corp NY and gave the stock a “hold” rating in a report on Wednesday, January 3rd.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CAPROCK Group Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $106,000. Allianz Asset Management GmbH purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $105,000. SG Americas Securities LLC purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $140,000. Susquehanna International Group LLP purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $136,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $166,000. 58.58% of the stock is owned by institutional investors and hedge funds.

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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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