TrustCo Bank Corp NY (NASDAQ:TRST) upgrade at Zacks Investment Research

TrustCo Bank Corp NY (NASDAQ: TRST) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Saturday, Zacks.com reports.

According to Zacks, “TRUSTCO BANK CORP. (NY) is a unique bank holding company, engaged through its subsidiary, in general banking services.”

TRST stock opened at $34.08 on Friday. The company has a market capitalization of $654.98 million, a P/E ratio of 11.10 and a beta of 1.12. The stock’s fifty-day moving average price is $33.62 and its 200-day moving average price is $33.17. TrustCo Bank Corp NY has a 1-year low of $29.78 and a 1-year high of $41.47.

In other TrustCo Bank Corp NY news, CEO Robert J. McCormick purchased 3,500 shares of the company in a trade on Wednesday, December 15. The shares were acquired at an average cost of $32.40 per share, with a total value of $113,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. In the past three months, insiders have acquired 5,448 shares of the company worth $177,889. Insiders hold 2.90% of the shares of the company.

A number of large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc bought a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $54,000. Jefferies Group LLC purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $1,231,000. Amalgamated Bank purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $326,000. Metropolitan Life Insurance Co NY increased its holdings of TrustCo Bank Corp NY shares by 28,984.2% in the second quarter. Metropolitan Life Insurance Co NY now owns 5,526 shares of the bank worth $190,000 after purchasing an additional 5,507 shares in the last quarter. Finally, the Alaska State Department of Revenue increased its holdings of TrustCo Bank Corp NY shares by 5.4% in the third quarter. The Alaska State Department of Revenue now owns 14,055 shares of the bank worth $449,000 after buying 715 additional shares in the last quarter. 64.39% of the shares are currently held by institutional investors and hedge funds.

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About TrustCo Bank Corp NY

TrustCo Bank Corp. NY is a savings and loan holding company which, through its subsidiary, provides banking and financial services to individuals, partnerships and businesses. It offers checking accounts, savings accounts, retirement accounts, term deposits, money market accounts and credit cards.

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