Crispr Therapeutics shares tumble after significant earnings miss
Kevin M. Curley, the Executive Vice President and Chief Operating Officer of Trustco Bank Corp NY (NASDAQ:TRST), recently increased his stake in the company. According to a recent SEC filing, Curley purchased 625 shares of common stock on January 29, 2025. The shares were acquired at a weighted average price of $32.13 per share, amounting to a total transaction value of $20,081. Trading at a P/E ratio of 12.55, InvestingPro analysis suggests the $607 million market cap company is currently undervalued.
Following this transaction, Curley holds a total of 37,520 shares directly. Additionally, he indirectly owns 152 shares through his wife. The acquisition was part of Curley’s participation in a dividend reinvestment and/or employee benefit plan with a dividend reinvestment feature. Notably, TRST has maintained dividend payments for 43 consecutive years, currently offering a 4.5% yield. For deeper insights into TRST’s financial health and valuation metrics, check out the comprehensive research report available on InvestingPro.
In other recent news, TrustCo Bank Corp NY reported its fourth-quarter earnings for 2024, revealing a mixed financial performance. The company posted earnings per share (EPS) of $0.59, falling short of analysts’ forecast of $0.64. Revenue also didn’t meet the expectations, coming in at $43.31 million compared to the projected $43.88 million. Despite the earnings miss, TrustCo Bank reported a 14.6% increase in net income year-over-year, reaching $11.3 million, indicating a solid financial position. The bank’s return on average assets was 0.73%, and the return on average equity stood at 6.70%.
In addition, TrustCo Bank unveiled new cannabis banking services across multiple states. The bank’s book value per share increased by 4.8% to $35.56. Looking ahead, TrustCo Bank plans to expand its commercial loan portfolio and explore opportunities in cannabis banking, especially in New York and Massachusetts. The company projects EPS growth for the upcoming quarters, with expectations of $0.65 in Q1 2025 and $0.69 in Q2 2025. These are among the recent developments at TrustCo Bank.
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