TrustCo Bank Corp NY Reaches US$581m Market Cap Benefiting Insider Stock Buying

Last week, TrustCo Bank Corp NY (NASDAQ:TRST) insiders, who had purchased shares in the previous 12 months were rewarded handsomely. The shares increased by 12% last week, resulting in a US$65m increase in the company's market worth, implying a 16% gain on their initial purchase. As a result, their original purchase of US$349.6k worth of stock is now worth US$405.2k.

While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.

Check out our latest analysis for TrustCo Bank Corp NY

TrustCo Bank Corp NY Insider Transactions Over The Last Year

In the last twelve months, the biggest single purchase by an insider was when Executive VP & CFO Michael Ozimek bought US$75k worth of shares at a price of US$27.62 per share. Even though the purchase was made at a significantly lower price than the recent price (US$31.48), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

While TrustCo Bank Corp NY insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

TrustCo Bank Corp NY is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.

TrustCo Bank Corp NY Insiders Bought Stock Recently

Over the last three months, we've seen a bit of insider buying at TrustCo Bank Corp NY. Insiders shelled out US$26k for shares in that time. It's great to see that insiders are only buying, not selling. However, in this case the amount invested recently is quite small.

Insider Ownership

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. TrustCo Bank Corp NY insiders own about US$19m worth of shares. That equates to 3.2% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The TrustCo Bank Corp NY Insider Transactions Indicate?

We note a that there has been a bit of insider buying recently (but no selling). Overall the buying isn't worth writing home about. However, our analysis of transactions over the last year is heartening. Insiders do have a stake in TrustCo Bank Corp NY and their transactions don't cause us concern. Of course, the future is what matters most. So if you are interested in TrustCo Bank Corp NY, you should check out this free report on analyst forecasts for the company.

But note: TrustCo Bank Corp NY may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com