The stock of TrustCo Bank Corp NY (NASDAQ:TRST) hit a new 52-week high and has $9.10 target or 9.00% above today’s $8.35 share price. The 7 months bullish chart indicates low risk for the $818.75M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $9.10 price target is reached, the company will be worth $73.69M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $8.35 per share. It is down 32.12% since April 21, 2016 and is uptrending. It has outperformed by 26.79% the S&P500.
Analysts await TrustCo Bank Corp NY (NASDAQ:TRST) to report earnings on January, 19.
TrustCo Bank Corp NY (NASDAQ:TRST) Ratings Coverage
Out of 3 analysts covering TrustCo Bank Corp (NASDAQ:TRST), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. TrustCo Bank Corp has been the topic of 6 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Thursday, July 23, the company rating was downgraded by Bruyette & Woods”. Wood upgraded it to “Market Perform” rating and $6 target price in Wednesday, October 7 report. The stock of TrustCo Bank Corp NY (NASDAQ:TRST) earned “Hold” rating by Zacks on Wednesday, August 12. On Wednesday, October 7 the stock rating was upgraded by Keefe Bruyette & Woods to “Mkt Perform”.
According to Zacks Investment Research, “TRUSTCO BANK CORP. (NY) is a one bank holding company, engaged through its subsidiary, in general banking.”
Insitutional Activity: The institutional sentiment decreased to 1.24 in Q2 2016. Its down 0.03, from 1.27 in 2016Q1. The ratio worsened, as 5 funds sold all TrustCo Bank Corp NY shares owned while 40 reduced positions. 11 funds bought stakes while 46 increased positions. They now own 52.23 million shares or 1.19% less from 52.86 million shares in 2016Q1.
Aperio Limited Liability Company last reported 70,796 shares in the company. Ancora Advisors Llc reported 114,500 shares or 0.09% of all its holdings. The New York-based D E Shaw And Inc has invested 0% in TrustCo Bank Corp NY (NASDAQ:TRST). Vanguard Grp has 0% invested in the company for 4.53 million shares. Louisiana State Employees Retirement System holds 0.01% or 42,300 shares in its portfolio. Martingale Asset Mngmt Limited Partnership owns 111,873 shares or 0.01% of their US portfolio. Teacher Retirement System Of Texas last reported 13,399 shares in the company. Springbok Mgmt Ltd Liability has 500 shares for 0% of their US portfolio. Capstone Asset Mngmt Communications accumulated 0% or 22,240 shares. Moreover, Price T Rowe Associates Md has 0% invested in TrustCo Bank Corp NY (NASDAQ:TRST) for 41,250 shares. Ls Inv Advsrs Ltd Company has 0% invested in the company for 3,245 shares. Pinebridge Limited Partnership holds 12,111 shares or 0% of its portfolio. Bancorporation Of Ny Mellon last reported 0% of its portfolio in the stock. Moreover, First Tru Advsrs Ltd Partnership has 0% invested in TrustCo Bank Corp NY (NASDAQ:TRST) for 143,751 shares. Comerica Bank holds 0.01% of its portfolio in TrustCo Bank Corp NY (NASDAQ:TRST) for 95,336 shares.
Insider Transactions: Since October 27, 2016, the stock had 1 insider buy, and 1 sale for $32,600 net activity. 5,000 shares were sold by POWERS WILLIAM D, worth $34,900 on Thursday, October 27. $67,500 worth of TrustCo Bank Corp NY (NASDAQ:TRST) shares were bought by FLYNN BRIAN C.
More news for TrustCo Bank Corp NY (NASDAQ:TRST) were recently published by: Seekingalpha.com, which released: “Cashing In On TrustCo Bank” on November 16, 2016. Streetinsider.com‘s article titled: “Form 4 TRUSTCO BANK CORP NY For: Nov 21 Filed by: PURDY WILLIAM J” and published on November 22, 2016 is yet another important article.
TRST Company Profile
Trustco Bank Corp NY, incorporated on October 28, 1981, is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Firm operates through the community banking segment. The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and firms. The Bank’s business consists of accepting deposits and making loans and investments. The Bank provides both personal and business banking services. The Bank operates approximately 160 automatic teller machines (ATMs) and approximately 150 banking offices. The Bank’s subsidiary, Trustco Realty Corp., is a real estate investment trust (REIT) formed to acquire, hold and manage real estate mortgage assets, including residential mortgage loans and mortgage backed securities. The Bank’s trust department operates under the name, Trustco Financial Services, and serves as executor of estates and trustee of personal trusts, provides asset and wealth management services, provides estate planning and related advice, provides custodial services, and acts as trustee for various types of employee benefit plans and corporate pension and profit sharing trusts. The Company’s subsidiary, ORE Subsidiary Corp., is formed to hold and manage foreclosed properties acquired by the Bank.
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