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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 Mar 21
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$6.53M 101.95K 102.49K -0.5
$6.24M 46.68K 48.25K -3.3
$5.33M 43.65K 43.63K +0.1
$5.07M 33.28K 33.55K -0.8
$4.58M 27.88K 28.19K -1.1
$4.48M 607.21K 607.21K 0
$4.47M 18.94K 19.31K -1.9
$4.23M 22.9K 23K -0.4
$4.09M 311.2K 315.05K -1.2
$4.06M 33.9K 34.05K -0.4
$3.14M 29K 29.25K -0.9
$2.96M 56.18K 56.58K -0.7
$2.95M 52.81K 53.61K -1.5
$2.94M 28.03K 28.28K -0.9
$2.92M 96.55K 97.32K -0.8
$2.91M 21.46K 21.73K -1.2
$2.79M 21.03K 21.18K -0.7
$2.65M 33.63K 33.85K -0.6
$2.64M 18.68K 18.89K -1.1
$2.28M 50.65K 50.65K 0
$1.99M 10.53K 10.78K -2.3
$1.81M 29.05K 29.35K -1.0
$1.74M 7.77K 7.77K 0
$1.72M 8.67K 8.88K -2.3
$1.71M 14.44K 14.73K -1.9
$1.7M 32.89K 35.06K -6.2
$1.62M 44.83K 45.28K -1.0
$1.54M 10.88K 10.98K -0.9
$1.5M 7.9K 8.3K -4.8
$1.47M 23.89K 23.89K 0
$1.39M 23.96K 45.16K -46.9
$1.32M 14.66K 14.66K 0
$1.3M 9.55K 9.75K -2.1
$1.29M 16.68K 16.68K 0
$1.2M 9.03K 9.26K -2.4
$1.17M 6.09K 6.14K -0.8
$1.07M 15.21K 16.11K -5.6
$955K 12.39K 12.39K 0
$892K 11.87K 21.87K -45.7
$835K 4.44K 4.44K 0
$767K 12.8K 12.8K 0
$760K 4.48K 4.54K -1.5
$716K 11.35K 11.35K 0
$624K 7.43K 7.68K -3.3
Vanguard Emerging Markets Stock
$618K 11.89K 12.77K -6.9
$610K 2.85K 2.88K -1.1
$592K 2.2K 2.2K 0
$546K 7.07K 7.14K -1.0
$525K 1.15K 1.15K 0
$480K 10.99K 11.14K -1.3
Holdings list only includes long positions. Only includes long positions.

Calendar

7 May 21
3 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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
30 Jul 21 Frank B Silverman COMMON STOCK Buy Aquire P No No 33.655 1,000 33.66K 4,000
27 Jul 21 Mccormick Robert J COMMON STOCK By will or laws of descent Aquire W No No 0 3,820 0 223,880
7 Jun 21 Curley Kevin M COMMON STOCK Buy Aquire P No No 36.05 430 15.5K 23,499
1 Jun 21 Leonard Robert M COMMON STOCK Buy Aquire P No No 38 604 22.95K 22,888
21 May 21 Hall Michael James COMMON STOCK Option exercise Aquire M No No 6.43 1,125 7.23K 11,626
21 May 21 Hall Michael James OPTION: RT-TO BUY COMMON STOCK Option exercise Dispose M No No 6.43 1,125 7.23K 1,125

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 169 166 +1.8%
Opened positions 22 19 +15.8%
Closed positions 19 14 +35.7%
Increased positions 53 54 -1.9%
Reduced positions 58 57 +1.8%
13F shares
Current Prev Q Change
Total value 816.15M 414.71M +96.8%
Total shares 62.14M 62.1M +0.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 14.27M $105.15M +0.2%
Vanguard 6.47M $47.65M -4.2%
Dimensional Fund Advisors 5.22M $38.44M -3.4%
BEN Franklin Resources 5.02M $36.97M +14.9%
STT State Street 3.16M $23.52M +0.9%
Systematic Financial Management 2.34M $17.26M +32.1%
Geode Capital Management 1.63M $12.03M +7.3%
NTRS Northern Trust 1.46M $10.75M -20.0%
BK Bank Of New York Mellon 1.35M $9.95M +0.8%
Royce & Associates 1.27M $9.37M +57.5%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.53M EXIT
Voya Investment Management 151.94K -734.72K -82.9%
BEN Franklin Resources 5.02M +651.35K +14.9%
Systematic Financial Management 2.34M +568.75K +32.1%
Victory Capital Management 750.98K +552.77K +278.9%
Royce & Associates 1.27M +464.13K +57.5%
Canada Pension Plan Investment Board 0 -369.3K EXIT
NTRS Northern Trust 1.46M -365.19K -20.0%
Millennium Management 243.99K -325.88K -57.2%
Vanguard 6.47M -282.39K -4.2%

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
New words: accelerated, Bill, CECL, confidence, consummated, forgiven, law, ownership, proportionately, reaching, shareholder, split
Removed: absorb, advertising, application, arisen, assist, chosen, commenced, Committee, COVID, cumulative, cut, deferred, FRB, implemented, modest, phased, professional, reprice, schedule, slightly, software, solution, Subsequent, suspend, unfunded, unknown