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TRST Trustco Bank

TrustCo Bank Corp NY is a $5.7 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 148 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country.

Company profile

Ticker
TRST
Exchange
CEO
Robert Joseph McCormick
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
141630287

TRST stock data

(
)

Investment data

Data from SEC filings
Top 50 of 71 long holdings
End of quarter 31 Dec 20
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$5.79M 43.63K 43.82K -0.4
$5.11M 102.49K 66.69K +53.7
$4.44M 28.19K 27.07K +4.1
$4.29M 19.31K 19.35K -0.2
$4.26M 33.55K 32.09K +4.5
$4.17M 23K 23.07K -0.3
$4.16M 48.25K 48.3K -0.1
$4.05M 607.21K 68.34K +788.5
$3.73M 34.05K 31.92K +6.7
$3.4M 315.05K 301.38K +4.5
$3.13M 29.25K 27.15K +7.7
$3.1M 56.58K 58.41K -3.1
$3.02M 21.73K 20.6K +5.5
$3M 21.18K 21.35K -0.8
$2.89M 33.85K 32.83K +3.1
$2.8M 18.89K 18.13K +4.2
$2.8M 97.32K 35.59K +173.5
$2.65M 45.16K 24.58K +83.7
$2.39M 28.28K 17.63K +60.4
$2.21M 53.61K 50.85K +5.4
$1.89M 50.65K NEW
$1.8M 29.35K 27.95K +5.0
$1.77M 10.78K 9.93K +8.6
$1.73M 14.73K 13.48K +9.3
$1.67M 7.77K 6.67K +16.5
$1.67M 45.28K 30.28K +49.5
$1.57M 35.06K 31.74K +10.4
$1.57M 8.88K 7.86K +13.0
$1.49M 21.87K NEW
$1.41M 23.89K 24.48K -2.4
$1.41M 9.75K 9.75K 0
$1.33M 8.3K 8.1K +2.5
$1.33M 10.98K 10.08K +8.9
$1.19M 16.68K 15.38K +8.4
$1.18M 14.66K 4.74K +209.2
$1.17M 9.26K 8.78K +5.4
$1.07M 6.14K 6.44K -4.7
$1.04M 30.07K NEW
$1.04M 16.11K 16.22K -0.7
$1.01M 12.39K 12.56K -1.4
$781K 4.44K 4.44K 0
$765K 4.54K 4.63K -1.9
$760K 40.21K NEW
$742K 10.62K NEW
$704K 11.35K 11.46K -1.0
$703K 12.8K 12.8K 0
Vanguard Emerging Markets Stock
$640K 12.77K 12.77K 0
$624K 2.88K 2.88K 0
$558K 7.68K 7.38K +4.1
$536K 1.15K 1.15K 0
Holdings list only includes long positions. Only includes long positions.

Calendar

25 Feb 21
21 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 21 Kimberly Adams Russell COMMON STOCK Buy Aquire P No No 7.1 5,000 35.5K 12,000
25 Feb 21 Curley Kevin M COMMON STOCK Buy Aquire P No No 7.03 2,500 17.58K 113,395
25 Feb 21 Curley Kevin M COMMON STOCK Buy Aquire P No No 7.02 500 3.51K 110,895
25 Feb 21 Salvador Scot R COMMON STOCK Payment of exercise Dispose F No No 6.96 3,714 25.85K 199,780
25 Feb 21 Salvador Scot R COMMON STOCK Option exercise Aquire M No No 5.17 10,000 51.7K 203,494
25 Feb 21 Salvador Scot R OPTION: RT-TO BUY COMMON STOCK Option exercise Aquire M No No 5.17 10,000 51.7K 7,444
11 Dec 20 Curley Kevin M COMMON STOCK Buy Aquire P No No 6.35 1,750 11.11K 109,721
11 Dec 20 Curley Kevin M COMMON STOCK Buy Aquire P No No 6.37 750 4.78K 107,971
27 Nov 20 Leonard Robert M COMMON STOCK Buy Aquire P No No 6.21 7,252 45.03K 110,024

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 166 161 +3.1%
Opened positions 19 15 +26.7%
Closed positions 14 15 -6.7%
Increased positions 54 44 +22.7%
Reduced positions 57 61 -6.6%
13F shares
Current Prev Q Change
Total value 414.71M 314.54M +31.8%
Total shares 62.1M 60.16M +3.2%
Total puts 0 17.2K EXIT
Total calls 0 0
Total put/call ratio Infinity
Largest owners
Shares Value Change
BLK Blackrock 14.23M $94.94M +0.5%
Vanguard 6.75M $45.01M +0.1%
Dimensional Fund Advisors 5.4M $36.03M -2.3%
BEN Franklin Resources 4.36M $29.11M +0.3%
STT State Street 3.13M $21.09M +3.3%
NTRS Northern Trust 1.82M $12.16M -1.0%
Systematic Financial Management 1.77M $11.83M +3.6%
Norges Bank 1.53M $10.18M NEW
Geode Capital Management 1.52M $10.14M -1.9%
BK Bank Of New York Mellon 1.34M $8.94M +1.3%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.53M +1.53M NEW
Assenagon Asset Management 0 -912.03K EXIT
TRST Trustco Bank 607.21K +538.87K +788.5%
Renaissance Technologies 523.04K -446.89K -46.1%
Canada Pension Plan Investment Board 369.3K +369.3K NEW
Tower Research Capital 12.16K -356.33K -96.7%
Hotchkis & Wiley Capital Management 800.96K +352.97K +78.8%
Arrowstreet Capital, Limited Partnership 417.27K +313.62K +302.6%
D. E. Shaw & Co. 453.15K +293.66K +184.1%
GS Goldman Sachs 257.06K -264.65K -50.7%

Financial report summary

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Risks
  • The COVID-19 outbreak could adversely affect our business activities, financial condition and results of
  • As a participating lender in the SBA’s Paycheck Protection Program, the Company and the Bank are subject to additional risks of litigation from the Bank’s customers or other parties regarding the Bank’s processing of loans for the Payment Protection Program and risks that the SBA may not fund some or all Payment Protection Program loan guaranties.
  • Certain interest rate movements may hurt earnings and asset values.
  • We are exposed to credit risk in our lending activities.
  • If our allowance for loan losses (“ALLL”) is not sufficient to cover actual loan losses, our earnings could decrease, and a new accounting standard may require us to increase our ALLL.
  • We may not be able to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities.
  • We are subject to claims and litigation pertaining to fiduciary responsibility and lender liability.
  • A prolonged economic downturn, especially one affecting our geographic market area, will adversely affect our operations and financial results.
  • Market volatility levels have experienced significant variations in recent years and a return to very high volatility levels could adversely affect us.
  • The soundness of other financial institutions could adversely affect us.
  • The trust wealth management fees we receive may decrease as a result of poor investment performance, in either relative or absolute terms, which could decrease our revenues and net earnings.
  • The regulatory capital rules could slow our growth, cause us to seek to raise additional capital, or both.
  • Changes in laws and regulations and the cost of regulatory compliance with new laws and regulations may adversely affect our operations and our income.
  • Our ability to pay dividends is subject to regulatory limitations and other limitations that may affect our ability to pay dividends to our stockholders or to repurchase our common stock.
  • We may be subject to a higher effective tax rate if Trustco Realty Corp. (“Trustco Realty”) fails to qualify as a real estate investment trust (“REIT”).
  • Changes in accounting standards could impact reported earnings.
  • Strong competition within the Bank’s market areas could hurt profits and slow growth.
  • Consumers and businesses are increasingly using non-banks to complete their financial transactions, which could adversely affect our business and results of operations.
  • Our business could be adversely affected by third-party service providers, data breaches, and cyber-attacks.
  • A failure in or breach of our operational or security systems or infrastructure, or those of third parties, could disrupt our businesses, and adversely impact our results of operations, liquidity and financial condition, as well as cause reputational harm.
  • Unauthorized disclosure of sensitive or confidential client or customer information, whether through a breach of our computer systems or otherwise, could severely harm our business.
  • We could suffer a material adverse impact from interruptions in the effective operation of, or security breaches affecting, our computer systems.
  • We rely on communications, information, operating and financial control systems, and technology from third-party service providers, and we may suffer an interruption in those systems that may result in lost business. Further, we may not be able to substitute providers on terms that are as favorable if our relationships with our existing service providers are interrupted.
  • Our proposed reverse stock split may not result in a proportional increase in the per share price of our common stock.
  • New lines of business or new products and services may subject us to additional risks.
  • Provisions in our articles of incorporation and bylaws and New York law may discourage or prevent takeover attempts, and these provisions may have the effect of reducing the market price of our stock.
  • We are dependent upon the services of our management team.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • If the business continuity and disaster recovery plans that we have in place are not adequate to continue our operations in the event of a disaster, the business disruption can adversely impact our operations.
  • The Company’s risk management framework may not be effective in mitigating risk and loss.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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