TrustCo Bank Corp NY (NASDAQ:TRST) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of TrustCo Bank Corp NY (NASDAQ:TRST) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

TrustCo Bank Corp NY Trading Up 1.2 %

TRST opened at $27.93 on Wednesday. TrustCo Bank Corp NY has a twelve month low of $23.78 and a twelve month high of $32.10. The firm has a market capitalization of $531.23 million, a PE ratio of 10.01 and a beta of 0.84. The firm’s 50-day moving average price is $27.17 and its 200 day moving average price is $28.03.

TrustCo Bank Corp NY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 51.61%.

Insider Transactions at TrustCo Bank Corp NY

In other TrustCo Bank Corp NY news, COO Kevin M. Curley purchased 916 shares of the stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average cost of $27.30 per share, for a total transaction of $25,006.80. Following the acquisition, the chief operating officer now owns 34,766 shares in the company, valued at approximately $949,111.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On TrustCo Bank Corp NY

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in TrustCo Bank Corp NY during the fourth quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its holdings in TrustCo Bank Corp NY by 26.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after acquiring an additional 378 shares during the period. Quest Partners LLC acquired a new position in TrustCo Bank Corp NY in the 4th quarter valued at about $144,000. Nisa Investment Advisors LLC increased its stake in TrustCo Bank Corp NY by 39,333.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after purchasing an additional 5,900 shares during the period. Finally, Advisor Partners II LLC acquired a new stake in shares of TrustCo Bank Corp NY during the third quarter worth about $201,000. Hedge funds and other 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.