Insider Buying: TrustCo Bank Corp NY (NASDAQ:TRST) Director Buys 200 Shares of Stock

TrustCo Bank Corp NY (NASDAQ:TRST) Director Lisa Lucarelli acquired 200 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $52.29 per share, with a total value of $10,458.00. Following the completion of the purchase, the director owned 100 shares in the company, valued at $5,229. The trade was a -200.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

TrustCo Bank Corp NY Stock Performance

Shares of TRST traded up $0.90 during midday trading on Monday, hitting $53.43. 66,436 shares of the stock traded hands, compared to its average volume of 112,416. The business’s 50 day moving average price is $47.77 and its two-hundred day moving average price is $44.92. The firm has a market capitalization of $933.87 million, a PE ratio of 15.67 and a beta of 0.62. TrustCo Bank Corp NY has a 1-year low of $30.52 and a 1-year high of $53.65.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Tuesday, April 21st. The bank reported $0.91 earnings per share for the quarter. The business had revenue of $49.55 million for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.8%. TrustCo Bank Corp NY’s payout ratio is currently 44.57%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after purchasing an additional 755 shares in the last quarter. Hantz Financial Services Inc. grew its position in TrustCo Bank Corp NY by 108.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after buying an additional 453 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in TrustCo Bank Corp NY during the 4th quarter valued at about $46,000. Godfrey Financial Associates Inc. bought a new stake in shares of TrustCo Bank Corp NY during the 4th quarter worth about $56,000. Finally, Russell Investments Group Ltd. raised its position in shares of TrustCo Bank Corp NY by 48.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.