TrustCo Bank Corp NY (NASDAQ:TRST) Stock Rating Upgraded by StockNews.com

TrustCo Bank Corp NY (NASDAQ:TRST) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

TrustCo Bank Corp NY Trading Down 0.7 %

TRST opened at $26.88 on Monday. The company’s 50 day moving average is $27.51 and its 200 day moving average is $28.31. The company has a market cap of $511.26 million, a price-to-earnings ratio of 9.74 and a beta of 0.84. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, April 22nd. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $41.42 million during the quarter, compared to analyst estimates of $43.16 million. TrustCo Bank Corp NY had a net margin of 21.17% and a return on equity of 8.35%. As a group, analysts predict that TrustCo Bank Corp NY will post 2.38 EPS for the current fiscal year.

Institutional Trading of TrustCo Bank Corp NY

Large investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new position in TrustCo Bank Corp NY during the first quarter valued at approximately $525,000. Price T Rowe Associates Inc. MD boosted its position in shares of TrustCo Bank Corp NY by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,556 shares of the bank’s stock worth $354,000 after acquiring an additional 662 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of TrustCo Bank Corp NY by 19.5% during the first quarter. Gabelli Funds LLC now owns 59,455 shares of the bank’s stock worth $1,674,000 after acquiring an additional 9,708 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of TrustCo Bank Corp NY during the first quarter worth $672,000. Finally, Vanguard Group Inc. boosted its position in shares of TrustCo Bank Corp NY by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock worth $37,335,000 after acquiring an additional 14,183 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

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.