Insider Selling: TrustCo Bank Corp NY (TRST) Director Sells $18,400.00 in Stock
TrustCo Bank Corp NY (NASDAQ:TRST) Director William D. Powers sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $9.20, for a total transaction of $18,400.00. Following the transaction, the director now owns 67,650 shares in the company, valued at $622,380. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
TrustCo Bank Corp NY stock traded down $0.08 during trading hours on Friday, reaching $9.10. 243,379 shares of the company’s stock traded hands, compared to its average volume of 356,890. TrustCo Bank Corp NY has a fifty-two week low of $7.51 and a fifty-two week high of $9.70. The company has a market cap of $885.76 million, a PE ratio of 16.10 and a beta of 1.00.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, July 23rd. The bank reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. TrustCo Bank Corp NY had a net margin of 26.07% and a return on equity of 11.98%. The company had revenue of $44.60 million for the quarter.
Separately, BidaskClub downgraded shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th.
Large investors have recently made changes to their positions in the stock. Spark Investment Management LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter valued at approximately $352,000. Systematic Financial Management LP raised its position in shares of TrustCo Bank Corp NY by 10.6% in the 2nd quarter. Systematic Financial Management LP now owns 1,031,934 shares of the bank’s stock valued at $9,184,000 after acquiring an additional 99,239 shares during the period. Wells Fargo & Company MN raised its position in shares of TrustCo Bank Corp NY by 10.6% in the 1st quarter. Wells Fargo & Company MN now owns 216,621 shares of the bank’s stock valued at $1,830,000 after acquiring an additional 20,755 shares during the period. Principal Financial Group Inc. raised its position in shares of TrustCo Bank Corp NY by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 760,969 shares of the bank’s stock valued at $6,430,000 after acquiring an additional 16,319 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 1st quarter valued at approximately $138,000. Institutional investors and hedge funds own 62.06% of the company’s stock.
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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