The stock of TrustCo Bank Corp NY (NASDAQ:TRST) hit a new 52-week high and has $8.80 target or 5.00% above today’s $8.38 share price. The 7 months bullish chart indicates low risk for the $799.14 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $8.80 price target is reached, the company will be worth $39.96M 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. About 236,620 shares traded hands. TrustCo Bank Corp NY (NASDAQ:TRST) has risen 29.86% since April 25, 2016 and is uptrending. It has outperformed by 23.85% 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. Keefe Bruyette & Woods upgraded the shares of TRST in a report on Wednesday, October 7 to “Mkt Perform” rating. The rating was downgraded by Bruyette & Woods” to “Underperform” on Thursday, July 23. The stock of TrustCo Bank Corp NY (NASDAQ:TRST) earned “Hold” rating by Zacks on Wednesday, August 12. As per Wednesday, October 7, the company rating was upgraded by Wood.
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 fall, 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.
Comerica Commercial Bank holds 0.01% or 95,336 shares in its portfolio. The Germany-based Deutsche Bank Ag has invested 0% in TrustCo Bank Corp NY (NASDAQ:TRST). Moreover, Barclays Public Limited Com has 0% invested in TrustCo Bank Corp NY (NASDAQ:TRST) for 252 shares. Raymond James Fincl Services Advsrs last reported 10,317 shares in the company. Gemmer Asset Ltd Limited Liability Company reported 613 shares or 0% of all its holdings. Allsquare Wealth Management Ltd Company has 2,658 shares for 0.02% of their US portfolio. The Massachusetts-based Loomis Sayles And Company Lp has invested 0% in TrustCo Bank Corp NY (NASDAQ:TRST). Goldman Sachs accumulated 0% or 57,605 shares. Quantbot Technologies Limited Partnership holds 0% of its portfolio in TrustCo Bank Corp NY (NASDAQ:TRST) for 395 shares. Focused Wealth Management Inc has 150 shares for 0% of their US portfolio. Profund Advsrs Limited Liability last reported 0.01% of its portfolio in the stock. Alliancebernstein L P has 0% invested in the company for 171,368 shares. Millennium Limited Liability owns 409,053 shares or 0.01% of their US portfolio. Dreman Value Mgmt L L C holds 0% or 366 shares in its portfolio. Prentiss Smith And Communications has 354 shares for 0% of their US portfolio.
Insider Transactions: Since October 27, 2016, the stock had 1 insider purchase, and 1 sale for $32,600 net activity. $34,900 worth of TrustCo Bank Corp NY (NASDAQ:TRST) shares were sold by POWERS WILLIAM D. Shares for $67,500 were bought by FLYNN BRIAN C.
Another recent and important TrustCo Bank Corp NY (NASDAQ:TRST) news was published by Seekingalpha.com which published an article titled: “Cashing In On TrustCo Bank” on November 16, 2016.
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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