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TrustCo Bank Corp NY

DB:TC5
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TC5
DB
$791M
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

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 last earnings update was 75 days ago. More info.


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TC5 Share Price and Events
7 Day Returns
1.4%
DB:TC5
0.1%
Europe Mortgage
-0.3%
DE Market
1 Year Returns
-5.3%
DB:TC5
-17.8%
Europe Mortgage
-6.7%
DE Market
TC5 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TrustCo Bank Corp NY (TC5) 1.4% 7.3% 1.1% -5.3% 19.7% -
Europe Mortgage 0.1% -2% -11.1% -17.8% 25% 13.1%
DE Market -0.3% 2.3% -2% -6.7% 11.3% 12.2%
1 Year Return vs Industry and Market
  • TC5 outperformed the Mortgage industry which returned -17.8% over the past year.
  • TC5 outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
TC5
Industry
5yr Volatility vs Market

Value

 Is TrustCo Bank Corp NY undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TrustCo Bank Corp NY to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TrustCo Bank Corp NY.

DB:TC5 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $4.73 * 9.9%
$0.47
Book Value of Equity per Share Median Book Value from the past 5 years. $4.73
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TC5
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.862 (1 + (1- 21%) (27.37%))
1.033
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.033 * 5.96%)
6.38%

Discounted Cash Flow Calculation for DB:TC5 using Excess Returns Model Model

The calculations below outline how an intrinsic value for TrustCo Bank Corp NY is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:TC5 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.9% – 6.38%) * $4.73)
$0.17
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.17 / (6.38% - 0.23%)
$2.68
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $4.73 + $2.68
$7.42
DB:TC5 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TC5 represents 0.88779x of NasdaqGS:TRST
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88779x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 7.42 x 0.88779
€6.59
Value per share (EUR) From above. €6.59
Current discount Discount to share price of €7.20
= -1 x (€7.20 - €6.59) / €6.59
-9.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of TrustCo Bank Corp NY is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TrustCo Bank Corp NY's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TrustCo Bank Corp NY's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TC5 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.63
NasdaqGS:TRST Share Price ** NasdaqGS (2019-07-17) in USD $8.11
Europe Mortgage Industry PE Ratio Median Figure of 16 Publicly-Listed Mortgage Companies 8.73x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 20.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TrustCo Bank Corp NY.

DB:TC5 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:TRST Share Price ÷ EPS (both in USD)

= 8.11 ÷ 0.63

12.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TrustCo Bank Corp NY is overvalued based on earnings compared to the Europe Mortgage industry average.
  • TrustCo Bank Corp NY is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does TrustCo Bank Corp NY's expected growth come at a high price?
Raw Data
DB:TC5 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
1.4%per year
Europe Mortgage Industry PEG Ratio Median Figure of 7 Publicly-Listed Mortgage Companies 0.99x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

DB:TC5 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.8x ÷ 1.4%

9.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TrustCo Bank Corp NY is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on TrustCo Bank Corp NY's assets?
Raw Data
DB:TC5 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $5.19
NasdaqGS:TRST Share Price * NasdaqGS (2019-07-17) in USD $8.11
Europe Mortgage Industry PB Ratio Median Figure of 18 Publicly-Listed Mortgage Companies 0.66x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.75x
DB:TC5 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:TRST Share Price ÷ Book Value per Share (both in USD)

= 8.11 ÷ 5.19

1.56x

* Primary Listing of TrustCo Bank Corp NY.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TrustCo Bank Corp NY is overvalued based on assets compared to the Europe Mortgage industry average.
X
Value checks
We assess TrustCo Bank Corp NY's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. TrustCo Bank Corp NY has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TrustCo Bank Corp NY expected to grow at an attractive rate?
  • TrustCo Bank Corp NY's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • TrustCo Bank Corp NY's earnings growth is positive but not above the Germany market average.
  • TrustCo Bank Corp NY's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TC5 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TC5 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 1.4%
DB:TC5 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3.6%
Europe Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
Europe Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TC5 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TC5 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 189 63 1
2019-12-31 182 61 1
DB:TC5 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 178 68 61
2018-12-31 177 68 61
2018-09-30 176 63 53
2018-06-30 175 63 50
2018-03-31 173 62 47
2017-12-31 171 62 43
2017-09-30 168 61 47
2017-06-30 165 60 45
2017-03-31 164 50 43
2016-12-31 162 55 43
2016-09-30 161 53 42
2016-06-30 160 56 42

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TrustCo Bank Corp NY's earnings are expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
  • TrustCo Bank Corp NY's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TC5 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from TrustCo Bank Corp NY Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TC5 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.64 0.64 0.64 1.00
2019-12-31 0.63 0.63 0.63 1.00
DB:TC5 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.63
2018-12-31 0.64
2018-09-30 0.55
2018-06-30 0.52
2018-03-31 0.49
2017-12-31 0.45
2017-09-30 0.49
2017-06-30 0.47
2017-03-31 0.45
2016-12-31 0.45
2016-09-30 0.44
2016-06-30 0.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if TrustCo Bank Corp NY will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess TrustCo Bank Corp NY's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TrustCo Bank Corp NY has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TrustCo Bank Corp NY's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TrustCo Bank Corp NY's year on year earnings growth rate has been positive over the past 5 years.
  • TrustCo Bank Corp NY's 1-year earnings growth exceeds its 5-year average (30.2% vs 5.8%)
  • TrustCo Bank Corp NY's earnings growth has exceeded the Europe Mortgage industry average in the past year (30.2% vs 9.2%).
Earnings and Revenue History
TrustCo Bank Corp NY's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TrustCo Bank Corp NY Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TC5 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 177.74 61.20 84.87
2018-12-31 177.37 61.45 83.46
2018-09-30 175.91 52.77 82.04
2018-06-30 174.72 50.17 81.29
2018-03-31 172.91 47.01 79.67
2017-12-31 170.74 43.15 79.21
2017-09-30 168.32 46.58 79.05
2017-06-30 165.49 44.91 77.36
2017-03-31 163.69 43.14 76.82
2016-12-31 162.12 42.60 75.84
2016-09-30 160.69 41.98 73.91
2016-06-30 159.66 41.67 73.21
2016-03-31 158.29 41.93 72.49
2015-12-31 157.32 42.24 71.52
2015-09-30 157.35 42.71 71.98
2015-06-30 157.17 42.80 71.85
2015-03-31 156.33 43.87 71.24
2014-12-31 156.26 44.15 69.99
2014-09-30 154.70 44.11 69.56
2014-06-30 152.28 43.65 68.57
2014-03-31 151.25 41.61 67.87
2013-12-31 148.53 39.77 68.51
2013-09-30 147.41 38.94 68.41
2013-06-30 146.87 38.45 68.44
2013-03-31 144.86 37.75 68.51
2012-12-31 143.95 37.49 67.61
2012-09-30 143.10 36.41 65.56

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • TrustCo Bank Corp NY has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TrustCo Bank Corp NY used its assets more efficiently than the Europe Mortgage industry average last year based on Return on Assets.
  • Unable to establish if TrustCo Bank Corp NY improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess TrustCo Bank Corp NY's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TrustCo Bank Corp NY has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of TrustCo Bank Corp NY's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TrustCo Bank Corp NY Company Filings, last reported 3 months ago.

DB:TC5 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 501.72 159.78 619.19
2018-12-31 489.87 161.89 467.91
2018-09-30 477.12 176.38 465.45
2018-06-30 470.82 182.71 586.62
2018-03-31 462.10 203.91 617.17
2017-12-31 458.31 242.99 578.24
2017-09-30 454.93 216.51 624.20
2017-06-30 447.37 233.62 707.14
2017-03-31 438.70 220.95 683.19
2016-12-31 432.69 209.41 674.97
2016-09-30 435.61 179.20 664.43
2016-06-30 430.27 190.54 758.40
2016-03-31 423.03 169.53 760.18
2015-12-31 413.31 191.23 619.06
2015-09-30 412.29 184.41 698.07
2015-06-30 402.46 170.75 678.59
2015-03-31 400.48 194.74 750.13
2014-12-31 393.44 189.12 580.25
2014-09-30 389.49 179.96 630.66
2014-06-30 385.02 181.52 621.55
2014-03-31 371.78 195.41 733.13
2013-12-31 361.81 204.16 499.44
2013-09-30 354.39 185.23 555.65
2013-06-30 348.62 176.33 628.83
2013-03-31 360.89 171.02 444.77
2012-12-31 358.80 159.85 468.32
2012-09-30 357.62 161.75 442.64
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • TrustCo Bank Corp NY has an acceptable proportion of non-loan assets held.
  • TrustCo Bank Corp NY's liabilities are made up of primarily low risk sources of funding.
  • Loans at TrustCo Bank Corp NY are broadly funded by customer deposits.
  • TrustCo Bank Corp NY's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • TrustCo Bank Corp NY has a sufficient allowance for bad loans.
  • TrustCo Bank Corp NY has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess TrustCo Bank Corp NY's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TrustCo Bank Corp NY has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.36%
Current annual income from TrustCo Bank Corp NY dividends. Estimated to be 3.33% next year.
If you bought €2,000 of TrustCo Bank Corp NY shares you are expected to receive €67 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TrustCo Bank Corp NY's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • TrustCo Bank Corp NY's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TC5 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TC5 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.27 1.00
2019-12-31 0.27 1.00
DB:TC5 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-21 0.273 3.541
2019-02-19 0.273 3.401
2018-11-20 0.273 3.653
2018-08-21 0.273 3.296
2018-05-15 0.263 2.913
2018-02-21 0.263 3.023
2017-11-21 0.263 2.924
2017-08-15 0.263 3.071
2017-05-16 0.263 3.380
2017-02-21 0.263 3.298
2016-11-15 0.263 3.106
2016-08-16 0.263 3.692
2016-05-17 0.263 4.028
2016-02-16 0.263 4.331
2015-11-17 0.263 4.445
2015-08-18 0.263 4.366
2015-05-19 0.263 3.917
2015-02-17 0.263 3.863
2014-11-18 0.263 3.832
2014-08-19 0.263 3.807
2014-05-20 0.263 3.963
2014-02-18 0.263 3.867
2013-11-19 0.263 3.770
2013-08-20 0.263 4.182
2013-05-21 0.263 4.568
2013-02-19 0.263 4.856
2013-01-22 0.263 4.992
2012-08-21 0.263 4.795
2012-05-15 0.263 4.833
2012-02-21 0.263 4.753
2011-11-16 0.263 4.789
2011-08-16 0.263 5.715
2011-05-17 0.263 5.255
2011-02-15 0.263 4.470
2011-01-18 0.262 4.314
2010-11-05 0.263 4.369
2010-10-19 0.263 4.770
2010-05-18 0.250 4.397
2010-02-16 0.250 3.896
2009-11-17 0.250 4.091
2009-08-18 0.250 4.040
2009-03-17 0.250 4.157
2009-02-17 0.440 7.688
2008-11-18 0.440 5.070
2008-08-19 0.440 4.121

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of TrustCo Bank Corp NY's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TrustCo Bank Corp NY's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TrustCo Bank Corp NY afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TrustCo Bank Corp NY has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TrustCo Bank Corp NY's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rob McCormick
COMPENSATION $2,477,255
AGE 55
TENURE AS CEO 15.5 years
CEO Bio

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 serves as Director at TrustCo Bank Corp NY and Trustco Bank since 2005. He was Chairman of TrustCo Bank Corp NY and Trustco Bank from November 2008 to December 2010. He Joined the TrustCo Bank Corp NY in 1995. He is President and Chief Executive Officer of Trustco Bank since November 2002 and its Chairman of the Board since January 01, 2019.

CEO Compensation
  • Rob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Rob's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the TrustCo Bank Corp NY management team in years:

9.5
Average Tenure
52
Average Age
  • The average tenure for the TrustCo Bank Corp NY management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rob McCormick

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
15.5 yrs

Mike Ozimek

TITLE
Executive VP & CFO
COMPENSATION
$565K
AGE
45
TENURE
4.6 yrs

Bob Leonard

TITLE
Executive VP of Personnel & Chief Risk Officer
COMPENSATION
$1M
AGE
56

Eric Schreck

TITLE
Executive Officer & Treasurer
COMPENSATION
$527K
AGE
52
TENURE
9.5 yrs

Scot Salvador

TITLE
Executive VP & Chief Lending Officer
COMPENSATION
$2M
AGE
52
TENURE
15.5 yrs

Kevin Curley

TITLE
Executive VP & COO
AGE
51
TENURE
0.6 yrs

Michael Hall

TITLE
VP, Counsel & Secretary
AGE
54
Board of Directors Tenure

Average tenure and age of the TrustCo Bank Corp NY board of directors in years:

8.7
Average Tenure
68
Average Age
  • The tenure for the TrustCo Bank Corp NY board of directors is about average.
Board of Directors

Dennis DeGennaro

TITLE
Independent Lead Director
COMPENSATION
$139K
AGE
74

Rob McCormick

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
0.5 yrs

William Powers

TITLE
Director
COMPENSATION
$137K
AGE
77
TENURE
24.5 yrs

Anthony Marinello

TITLE
Director
COMPENSATION
$139K
AGE
63
TENURE
20.5 yrs

Thomas Maggs

TITLE
Director
COMPENSATION
$138K
AGE
74
TENURE
14 yrs

Brian Flynn

TITLE
Director
COMPENSATION
$137K
AGE
68
TENURE
3.4 yrs

Lisa Lucarelli

TITLE
Director
COMPENSATION
$140K
AGE
55
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • TrustCo Bank Corp NY individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Jun 19 Sell William Powers Individual 13. Jun 19 13. Jun 19 -10,850 €6.65 €-72,171
13. Jun 19 Buy Michael Hall Individual 12. Jun 19 12. Jun 19 3,000 €6.62 €19,852
18. Mar 19 Sell Robert Leonard Individual 14. Mar 19 14. Mar 19 -17,252 €7.33 €-126,391
11. Mar 19 Buy Dennis DeGennaro Individual 07. Mar 19 07. Mar 19 900 €7.12 €6,401
14. Dec 18 Buy Kevin Curley Individual 13. Dec 18 13. Dec 18 2,000 €6.21 €12,429
15. Nov 18 Buy Kevin Curley Individual 14. Nov 18 14. Nov 18 5,000 €6.86 €34,284
07. Nov 18 Buy Dennis DeGennaro Individual 05. Nov 18 05. Nov 18 5,000 €6.69 €33,458
31. Oct 18 Buy Lisa Lucarelli Individual 29. Oct 18 29. Oct 18 1,323 €6.61 €8,740
31. Aug 18 Sell Eric Schreck Individual 30. Aug 18 30. Aug 18 -1,975 €7.91 €-15,618
X
Management checks
We assess TrustCo Bank Corp NY's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TrustCo Bank Corp NY has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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 company is primarily involved in accepting deposits, and making loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage backed securities. In addition, the company serves as the executor of estates and trustee of personal trusts; provides asset and wealth management, estate planning and related advice, and custodial services; and acts as trustee for various types of employee benefit plans, and corporate pension and profit sharing trusts. As of December 31, 2018, it operated through 148 banking offices and 161 automatic teller machines in New York, Florida, Vermont, Massachusetts, and New Jersey. The company was founded in 1902 and is headquartered in Glenville, New York.

Details
Name: TrustCo Bank Corp NY
TC5
Exchange: DB
Founded: 1902
$704,735,931
96,822,301
Website: http://www.trustcobank.com
Address: TrustCo Bank Corp NY
5 Sarnowski Drive,
Glenville,
New York, 12302,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS TRST Common Shares Nasdaq Global Select US USD 30. Sep 1982
DB TC5 Common Shares Deutsche Boerse AG DE EUR 30. Sep 1982
Number of employees
Current staff
Staff numbers
899
TrustCo Bank Corp NY employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 22:05
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/06/24
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.