DB:TC5

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TrustCo Bank Corp NY

Executive Summary

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has TrustCo Bank Corp NY's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TC5's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.2%

TC5

5.3%

DE Mortgage

2.6%

DE Market


1 Year Return

-28.9%

TC5

-19.9%

DE Mortgage

8.1%

DE Market

Return vs Industry: TC5 underperformed the German Mortgage industry which returned -19.9% over the past year.

Return vs Market: TC5 underperformed the German Market which returned 8.1% over the past year.


Shareholder returns

TC5IndustryMarket
7 Day1.2%5.3%2.6%
30 Day-4.9%-0.09%0.7%
90 Day-4.9%3.1%11.5%
1 Year-26.2%-28.9%-19.2%-19.9%10.5%8.1%
3 Year-15.5%-23.7%-19.6%-26.9%6.4%-2.1%
5 Yearn/a-5.8%-20.5%15.2%-0.3%

Price Volatility Vs. Market

How volatile is TrustCo Bank Corp NY's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is TrustCo Bank Corp NY undervalued compared to its fair value and its price relative to the market?

33.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TC5 (€4.9) is trading below our estimate of fair value (€7.37)

Significantly Below Fair Value: TC5 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TC5 is poor value based on its PE Ratio (11.2x) compared to the XE Mortgage industry average (8.5x).

PE vs Market: TC5 is good value based on its PE Ratio (11.2x) compared to the German market (21.5x).


Price to Earnings Growth Ratio

PEG Ratio: TC5 is poor value based on its PEG Ratio (8.3x)


Price to Book Ratio

PB vs Industry: TC5 is overvalued based on its PB Ratio (1.1x) compared to the XE Mortgage industry average (0.6x).


Next Steps

Future Growth

How is TrustCo Bank Corp NY forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

1.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TC5's forecast earnings growth (1.3% per year) is above the savings rate (0.2%).

Earnings vs Market: TC5's earnings (1.3% per year) are forecast to grow slower than the German market (23.6% per year).

High Growth Earnings: TC5's earnings are forecast to grow, but not significantly.

Revenue vs Market: TC5's revenue (5.2% per year) is forecast to grow slower than the German market (5.8% per year).

High Growth Revenue: TC5's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TC5's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has TrustCo Bank Corp NY performed over the past 5 years?

8.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TC5 has high quality earnings.

Growing Profit Margin: TC5's current net profit margins (31.9%) are lower than last year (34%).


Past Earnings Growth Analysis

Earnings Trend: TC5's earnings have grown by 8.5% per year over the past 5 years.

Accelerating Growth: TC5's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TC5 had negative earnings growth (-12%) over the past year, making it difficult to compare to the Mortgage industry average (-0.9%).


Return on Equity

High ROE: TC5's Return on Equity (9.6%) is considered low.


Next Steps

Financial Health

How is TrustCo Bank Corp NY's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: TC5's Assets to Equity ratio (10.3x) is moderate.

Allowance for Bad Loans: TC5 has a sufficient allowance for bad loans (220%).

Low Risk Liabilities: 95% of TC5's liabilities are made up of primarily low risk sources of funding.

Loan Level: TC5 has an appropriate level of Loans to Assets ratio (73%).

Low Risk Deposits: TC5's Loans to Deposits ratio (85%) is appropriate.

Level of Bad Loans: TC5 has an appropriate level of bad loans (0.5%).


Next Steps

Dividend

What is TrustCo Bank Corp NY current dividend yield, its reliability and sustainability?

4.41%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TC5's dividend (4.41%) is higher than the bottom 25% of dividend payers in the German market (1.23%).

High Dividend: TC5's dividend (4.41%) is in the top 25% of dividend payers in the German market (3.78%)


Stability and Growth of Payments

Stable Dividend: TC5's dividends per share have been stable in the past 10 years.

Growing Dividend: TC5's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.6%), TC5's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.1yrs

Average management tenure


CEO

Rob McCormick (56 yo)

16.58yrs

Tenure

US$3,036,181

Compensation

Mr. Robert Joseph McCormick, also known as Rob, has been President and Chief Executive Officer of TrustCo Bank Corp NY since January 2004 and its Chairman of the Board since January 01, 2019. Mr. McCormick ...


CEO Compensation Analysis

Compensation vs Market: Rob's total compensation ($USD3.04M) is above average for companies of similar size in the German market ($USD995.99K).

Compensation vs Earnings: Rob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Robert McCormick
President16.58yrsUS$3.04m1.55%
$ 7.8m
Michael Ozimek
Executive VP & CFO5.67yrsUS$1.15m0.015%
$ 77.7k
Kevin Curley
Executive VP & COO1.67yrsUS$1.18m0.11%
$ 542.4k
Robert Leonard
Executive VP of Personnel & Chief Risk Officerno dataUS$1.92m0.11%
$ 560.5k
Scot Salvador
Executive VP & Chief Lending Officer16.58yrsUS$1.72m0.20%
$ 991.8k
Michael Hall
General Counsel & Corporate Secretary5.58yrsno data0.0098%
$ 49.8k
Eric Schreck
Senior VP & Treasurer10.58yrsUS$526.72k0.10%
$ 524.9k

8.1yrs

Average Tenure

54yo

Average Age

Experienced Management: TC5's management team is seasoned and experienced (8.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert McCormick
President16.58yrsUS$3.04m1.55%
$ 7.8m
Robert McCormick
Honorary Directorno dataUS$234.70kno data
Nancy McNamara
Honorary Directorno dataUS$525.73kno data
William Terry
Honorary Directorno dataUS$867.22kno data
Richard Murray
Honorary Directorno datano datano data
Lionel Barthold
Honorary Directorno datano datano data
Anthony Marinello
Independent Director21.58yrsUS$141.51k0.11%
$ 537.3k
James Murphy
Honorary Directorno datano datano data
Thomas Maggs
Independent Director15.08yrsUS$141.51k0.078%
$ 395.4k
Dennis DeGennaro
Lead Independent Director1.58yrsUS$141.51k0.12%
$ 599.7k
Brian Flynn
Independent Director4.5yrsUS$141.51k0.011%
$ 57.7k
Lisa Lucarelli
Independent Director2.75yrsUS$141.51k0.0078%
$ 39.5k

3.6yrs

Average Tenure

72.5yo

Average Age

Experienced Board: TC5's board of directors are considered experienced (3.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TC5 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TrustCo Bank Corp NY's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TrustCo Bank Corp NY
  • Ticker: TC5
  • Exchange: DB
  • Founded: 1902
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$595.956m
  • Listing Market Cap: US$505.609m
  • Shares outstanding: 96.43m
  • Website: https://www.trustcobank.com

Number of Employees


Location

  • TrustCo Bank Corp NY
  • 5 Sarnowski Drive
  • Glenville
  • New York
  • 12302
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TRSTNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDSep 1982
TC5DB (Deutsche Boerse AG)YesCommon SharesDEEURSep 1982

Biography

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. The compan ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/08 20:50
End of Day Share Price2020/08/07 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.