NasdaqGS:TRST

Stock Analysis Report

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

Fundamentals

Flawless balance sheet with acceptable track record.

Risks

  • TrustCo Bank Corp NY is covered by less than 3 analysts.

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


Market Performance


7 Day Return

0.9%

NasdaqGS:TRST

2.1%

US Mortgage

2.1%

US Market


1 Year Return

-18.0%

NasdaqGS:TRST

-0.7%

US Mortgage

-0.04%

US Market

TRST underperformed the Mortgage industry which returned -1.5% over the past year.

TRST underperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

TRSTIndustryMarket
7 Day0.9%2.1%2.1%
30 Day0%-1.9%-3.2%
90 Day0.5%0.6%2.8%
1 Year-15.2%-18.0%1.4%-0.7%2.2%-0.04%
3 Year17.8%6.8%32.9%24.1%41.5%32.3%
5 Year32.5%10.8%59.3%42.6%55.0%37.8%

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

Valuation

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

12.33x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

TrustCo Bank Corp NY's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

TrustCo Bank Corp NY's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

TrustCo Bank Corp NY is good value based on earnings compared to the US Mortgage industry average.

TrustCo Bank Corp NY is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

TrustCo Bank Corp NY is poor value based on expected growth next year.


Price Based on Value of Assets

TrustCo Bank Corp NY is overvalued based on assets compared to the US Mortgage industry average.


Next Steps

Future Growth

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

0.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

TrustCo Bank Corp NY's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).

TrustCo Bank Corp NY's earnings are expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).

TrustCo Bank Corp NY's revenue growth is positive but not above the United States of America market average.

TrustCo Bank Corp NY's earnings growth is positive but not above the United States of America market average.

TrustCo Bank Corp NY's earnings growth is positive but not above the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if TrustCo Bank Corp NY will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

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

6.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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 (20.5% vs 6.8%)

TrustCo Bank Corp NY's earnings growth has not exceeded the US Mortgage industry average in the past year (20.5% vs 32.9%).


Return on Equity

TrustCo Bank Corp NY has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

TrustCo Bank Corp NY used its assets more efficiently than the US Mortgage industry average last year based on Return on Assets.


Return on Capital Employed

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.


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

Information is not available.

Information is not available.


Financial Institutions Analysis

TrustCo Bank Corp NY has an acceptable proportion of non-loan assets held.

TrustCo Bank Corp NY has a sufficient allowance for bad loans.

TrustCo Bank Corp NY's liabilities are made up of primarily low risk sources of funding.

TrustCo Bank Corp NY's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at TrustCo Bank Corp NY are broadly funded by customer deposits.

TrustCo Bank Corp NY has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

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

3.50%

Expected Dividend Yield


Dividend Yield and Payments Analysis

TrustCo Bank Corp NY's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

TrustCo Bank Corp NY's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

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

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.


Next Steps

Management

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

9.6yrs

Average management tenure


CEO

Rob McCormick (55yo)

15.6yrs

Tenure

US$2,477,255

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

Rob's remuneration is about average for companies of similar size in United States of America.

Rob's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

9.6yrs

Average Tenure

52yo

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.


Board Age and Tenure

8.8yrs

Average Tenure

68yo

Average Age

The tenure for the TrustCo Bank Corp NY board of directors is about average.


Insider Trading

TrustCo Bank Corp NY individual insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$18,67220 Aug 19
Eric Schreck
EntityIndividual
Role
Treasurer
Executive Officer & Treasurer
Shares2,400
Max PriceUS$7.78
SellUS$19,70012 Aug 19
William Powers
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,500
Max PriceUS$7.88
BuyUS$11,92526 Jul 19
Kevin Curley
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares1,500
Max PriceUS$7.95
SellUS$81,37514 Jun 19
William Powers
EntityIndividual
Role
Member of the Board of Directors
Director
Shares10,850
Max PriceUS$7.50
BuyUS$22,47013 Jun 19
Michael Hall
EntityIndividual
Role
Chief Legal Officer
VP, Counsel & Secretary
Shares3,000
Max PriceUS$7.49
SellUS$142,84718 Mar 19
Robert Leonard
EntityIndividual
Role
Head of Human Resources
Executive VP of Personnel & Chief Risk Officer
Shares17,252
Max PriceUS$8.28
BuyUS$7,18611 Mar 19
Dennis DeGennaro
EntityIndividual
Role
Unit Chairman
Independent Lead Director
Shares900
Max PriceUS$7.99
BuyUS$14,11314 Dec 18
Kevin Curley
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares2,000
Max PriceUS$7.06
BuyUS$38,80015 Nov 18
Kevin Curley
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares5,000
Max PriceUS$7.76
BuyUS$38,15007 Nov 18
Dennis DeGennaro
EntityIndividual
Role
Unit Chairman
Independent Lead Director
Shares5,000
Max PriceUS$7.63
BuyUS$9,94931 Oct 18
Lisa Lucarelli
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,323
Max PriceUS$7.52
SellUS$18,19031 Aug 18
Eric Schreck
EntityIndividual
Role
Treasurer
Executive Officer & Treasurer
Shares1,975
Max PriceUS$9.21

Ownership Breakdown


Management Team

  • Rob McCormick (55yo)

    President

    • Tenure: 15.6yrs
    • Compensation: US$2.48m
  • Scot Salvador (52yo)

    Executive VP & Chief Lending Officer

    • Tenure: 15.6yrs
    • Compensation: US$1.52m
  • Bob Leonard (56yo)

    Executive VP of Personnel & Chief Risk Officer

    • Tenure: 0.0yrs
    • Compensation: US$1.34m
  • Eric Schreck (52yo)

    Executive Officer & Treasurer

    • Tenure: 9.6yrs
    • Compensation: US$526.72k
  • Mike Ozimek (45yo)

    Executive VP & CFO

    • Tenure: 4.7yrs
    • Compensation: US$565.02k
  • Kevin Curley (51yo)

    Executive VP & COO

    • Tenure: 0.7yrs
  • Michael Hall (54yo)

    VP, Counsel & Secretary

    • Tenure: 0.0yrs

Board Members

  • William Powers (77yo)

    Director

    • Tenure: 24.6yrs
    • Compensation: US$136.82k
  • Anthony Marinello (63yo)

    Director

    • Tenure: 20.6yrs
    • Compensation: US$139.32k
  • Rob McCormick (55yo)

    President

    • Tenure: 15.6yrs
    • Compensation: US$2.48m
  • Thomas Maggs (74yo)

    Director

    • Tenure: 14.1yrs
    • Compensation: US$137.82k
  • Dennis DeGennaro (74yo)

    Independent Lead Director

    • Tenure: 0.0yrs
    • Compensation: US$139.32k
  • Brian Flynn (68yo)

    Director

    • Tenure: 3.5yrs
    • Compensation: US$136.82k
  • Lisa Lucarelli (55yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$140.32k

Company Information

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


Key Information

  • Name: TrustCo Bank Corp NY
  • Ticker: TRST
  • Exchange: NasdaqGS
  • Founded: 1902
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$747.177m
  • Shares outstanding: 96.91m
  • 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 Analysis2019/08/22 23:43
End of Day Share Price2019/08/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.