TrustCo Bank Corp NY (NASDAQ:TRST) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a hold rating to a sell rating in a research note released on Wednesday morning.

TrustCo Bank Corp NY Trading Up 2.7 %

TRST opened at $27.35 on Wednesday. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10. The business’s fifty day simple moving average is $27.18 and its 200-day simple moving average is $28.04. The company has a market capitalization of $520.20 million, a price-to-earnings ratio of 9.80 and a beta of 0.84.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s payout ratio is 51.61%.

Insider Activity at TrustCo Bank Corp NY

In related news, COO Kevin M. Curley acquired 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $27.30 per share, with a total value of $25,006.80. Following the completion of the transaction, the chief operating officer now directly owns 34,766 shares in the company, valued at $949,111.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 1,879 shares of company stock valued at $51,583 over the last quarter. 3.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in TrustCo Bank Corp NY during the fourth quarter valued at about $28,000. Allspring Global Investments Holdings LLC boosted its position in TrustCo Bank Corp NY by 26.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after purchasing an additional 378 shares in the last quarter. Quest Partners LLC acquired a new stake in TrustCo Bank Corp NY in the fourth quarter worth about $144,000. Nisa Investment Advisors LLC boosted its holdings in TrustCo Bank Corp NY by 39,333.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Maryland State Retirement & Pension System acquired a new stake in TrustCo Bank Corp NY in the fourth quarter worth about $218,000. Institutional investors own 68.57% of the company’s stock.

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 and businesses. The company accepts deposits; and offers 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.