Piper Sandler slashes price target on TrustCo Bank Corp NY [TRST] – find out why.

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TrustCo Bank Corp NY [NASDAQ: TRST] price plunged by -0.73 percent to reach at -$0.22. The company report on May 17, 2022 that TrustCo Declares Cash Dividend.


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The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 17, 2022 declared a quarterly cash dividend of $0.35 per share, or $1.40 per share on an annualized basis. The dividend will be payable on July 1, 2022 to shareholders of record at the close of business on June 3, 2022. TrustCo has paid a cash dividend every year since 1904.

Chairman, President and Chief Executive Officer Robert J. McCormick said: “Corporate performance at the level achieved by TrustCo is the culmination of years of planning, hard work, grit, and determination. These attributes have been the hallmarks of TrustCo as it has paid a dividend every year since 1904. It is our distinct privilege to honor the century-long tradition of distributing a solid payout to our owners. We continue to cultivate new customers by providing top-level hometown service, leveraging technology, and expanding into new lending areas, as we have recently done in New York, Florida, and New Jersey.”.

A sum of 249439 shares traded at recent session while its average daily volume was at 70.50K shares. TrustCo Bank Corp NY shares reached a high of $30.5748 and dropped to a low of $29.50 until finishing in the latest session at $29.85.

The one-year TRST stock forecast points to a potential upside of 14.71. The average equity rating for TRST stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on TrustCo Bank Corp NY [TRST]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRST shares is $35.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRST stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for TrustCo Bank Corp NY shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 25, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $5.50 to $6.50. The new note on the price target was released on April 23, 2020, representing the official price target for TrustCo Bank Corp NY stock. Previously, the target price had yet another raise to $6, while Keefe Bruyette analysts kept a Mkt Perform rating on TRST stock.

The Average True Range (ATR) for TrustCo Bank Corp NY is set at 0.69, with the Price to Sales ratio for TRST stock in the period of the last 12 months amounting to 3.46. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 66.09. Price to Free Cash Flow for TRST in the course of the last twelve months was 20.47.

TRST Stock Performance Analysis:

TrustCo Bank Corp NY [TRST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.10. With this latest performance, TRST shares dropped by -4.63% in over the last four-week period, additionally sinking by -8.74% over the last 6 months – not to mention a drop of -12.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRST stock in for the last two-week period is set at 36.27, with the RSI for the last a single of trading hit 31.72, and the three-weeks RSI is set at 39.20 for TrustCo Bank Corp NY [TRST]. The present Moving Average for the last 50 days of trading for this stock 31.25, while it was recorded at 30.21 for the last single week of trading, and 32.70 for the last 200 days.

Insight into TrustCo Bank Corp NY Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and TrustCo Bank Corp NY [TRST] shares currently have an operating margin of +44.13. TrustCo Bank Corp NY’s Net Margin is presently recorded at +33.05.

Return on Equity for this stock inclined to 10.52, with Return on Assets sitting at 1.02.

TRST Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TrustCo Bank Corp NY go to 5.00%.

TrustCo Bank Corp NY [TRST] Insider Position Details

There are presently around $369 million, or 66.20% of TRST stock, in the hands of institutional investors. The top three institutional holders of TRST stocks are: BLACKROCK INC. with ownership of 2,836,175, which is approximately 1.167% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 1,352,121 shares of the stock with an approximate value of $40.36 million in TRST stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $27.88 million in TRST stock with ownership of nearly 1.753% of the company’s market capitalization.

Positions in TrustCo Bank Corp NY stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 63 institutional holders increased their position in TrustCo Bank Corp NY [NASDAQ:TRST] by around 528,021 shares. Additionally, 57 investors decreased positions by around 538,959 shares, while 37 investors held positions by with 11,278,916 shares. The mentioned changes placed institutional holdings at 12,345,896 shares, according to the latest SEC report filing. TRST stock had 16 new institutional investments in for a total of 88,729 shares, while 15 institutional investors sold positions of 260,967 shares during the same period.

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