TrustCo Bank Corp NY [NASDAQ:TRST] will report earnings after markets close on Thursday, January 21st.
TRST Earnings Forecast For The Current Quarter
TrustCo Bank Corp NY [TRST] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $44M and an earnings per share of $0 for Dec 2020. Looking further ahead, the company is expected to report revenue of $44.61M at an EPS of $0.14 for Mar 2021. The estimates represent upside of 5.20% and 7.41% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
TRST Earnings Estimates For The Current Year
For the financial year, TrustCo Bank Corp NY [NASDAQ:TRST] is expected to bring in revenue of $170.3M. The returns are nearly $-4.1 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.54, lower than that of FY19 by -$0.06. Estimates put this year’s earnings growth at -10.00%, 7.40% for the next, and at an annual 5.00% over the next 5-year period. As for sales, forecasts are for a decrease of -2.30% in the current fiscal year and a further 5.20% over the following year.
TRST Price Performance
On Wall Street, TrustCo Bank Corp NY [NASDAQ:TRST] finished Tuesday’s session up 0.21% at $7.23. The stock went up to $7.29 at the same session while its lowest single day price was $7.13. In the last five days, it saw a rise of about 2.19%, TrustCo Bank Corp NY shares gained by almost 8.40% since the beginning of the year. However, the share price has dropped to as low as -15.24% below its one year high. On 01/07/21, the company shares recorded $7.39, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $6.61. The company’s shares have declined by -14.03% in the past year. The 50-day SMA achieved is $6.49 while the 200-day SMA is $5.99. Volume dropped to 0.33 million from 0.6 million in the previous session.
TrustCo Bank Corp NY [TRST] Valuation Measures
Notably, TrustCo Bank Corp NY [TRST] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 13.29. The measure means the stock is exchanging at a premium as compared to the 12.10x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.80 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.51 which means TRST serve an unattractive investment opportunity compared to its competitors.
TRST Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 7.23 level, and in case of violation of this particular level, it will cause more drop to 7.14 level. On the upper level, 7.46 is still the key resistance. The stock may increase to the subsequent resistance at 7.38. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.87, implying a neutral technical stance while the MACD stands at 0.25, meaning price will decrease in the next trading period. Percent R indicator moved to 18.18%, implying bullish price movement. Stochastic %K at 80.68% suggest selling the stock.
Is TrustCo Bank Corp NY [NASDAQ:TRST] a Good Buy Right Now?
It should be noted that TRST technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 80% Buy in the past month. Data from TrustCo Bank Corp NY’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.51 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.43 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.43 million shares.
What is the short interest in TrustCo Bank Corp NY?
Short interest in the TrustCo Bank Corp NY stock has plunged, decreasing by -0.49 million shares to total 1.33 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 0.84 million, data from Yahoo Finance shows. The increase of 36.58% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 1.67% of the overall float for the stock.
TrustCo Bank Corp NY’s Biggest Shareholders: Who Owns TrustCo Bank Corp NY [TRST]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 13,169,623 shares or roughly 13.66% of the outstanding TRST shares. This means their shares have reduced by -27,464 from the 13,169,623 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $43,643,317. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP disposed off their -1.45% stake valued at $36,880,978 while SSgA Funds Management, Inc. cut theirs at $20,235,593. During the last quarter, Dimensional Fund Advisors LP liquidated -81,121 of its shares in TrustCo Bank Corp NY while SSgA Funds Management, Inc. sold -127,175 shares. The Franklin Mutual Advisers LLC’s holdings currently number 2,825,219 shares at $20426333.37. According to the firm’s last 13F report, Norges Bank Investment Management shares in the company at filing stood at 1,985,661 shares, roughly $13,244,359.
What are analyst thoughts on TrustCo Bank Corp NY?
Looking forward to the TrustCo Bank Corp NY share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for TrustCo Bank Corp NY stock at $8.00 within the next 12 months, which represents almost 9.62 per cent growth from its previous closing price of $7.23. The highest analysts’ target for TrustCo Bank Corp NY stock projections is $8.00 and the lowest one is $8.00. Still, 1 analysts sharing their consensus rating for TRST stock in 2021 agree that it is a Buy.