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TrustCo Bank
(NASDAQ:TRST)
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Rating:70Outperform
Price Target:
$60.00
â–²(4.62% Upside)
Action:Reiterated
Date:08/11/26
TRST scores 70 primarily on solid underlying financial stability (conservative leverage and strong free cash flow) and a positive earnings-call backdrop (improving net interest income/margin and meaningful buybacks). Offsetting these are weaker recent fundamental momentum in the financial statements (TTM revenue decline and margin compression) and a mixed/soft near-term technical picture (below the 20-day average with RSI in the mid-40s). Valuation is reasonable with a moderate P/E and a ~2.8% yield.
Positive Factors
Conservative leverage
TrustCo’s low and improving leverage (debt-to-equity ~0.22) provides durable capital flexibility. A conservative balance sheet reduces solvency risk in downturns, supports dividend and buyback programs, and leaves room for measured lending or investment growth without over-reliance on wholesale funding.
Negative Factors
Revenue decline and margin compression
A meaningful TTM revenue decline combined with operating margin normalization from earlier highs signals weaker top-line momentum and reduced operating leverage. If revenue weakness persists, it pressures long-term earnings power and limits the cushion available for capital returns and investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
TrustCo’s low and improving leverage (debt-to-equity ~0.22) provides durable capital flexibility. A conservative balance sheet reduces solvency risk in downturns, supports dividend and buyback programs, and leaves room for measured lending or investment growth without over-reliance on wholesale funding.
Read all positive factors
TrustCo Bank (TRST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$930.92M
Dividend Yield2.71%
Average Volume (3M)121.08K
Price to Earnings (P/E)15.6
Beta (1Y)0.71
Revenue Growth6.50%
EPS Growth28.40%
CountryUS
Employees742
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.60
Shares Outstanding17,028,000
10 Day Avg. Volume158,144
30 Day Avg. Volume121,083
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)1.10
Price to Sales (P/S)2.71
P/FCF Ratio16.51
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TrustCo Bank Business Overview & Revenue Model
Company Description
TrustCo Bank Corp NY functions as the parent entity for Trustco Bank, a federally regulated savings institution. This subsidiary delivers a comprehensive suite of banking solutions, addressing the financial needs of private individuals, partnershi...
How the Company Makes Money
TrustCo Bank primarily earns money through traditional banking spread and fee income generated by its banking subsidiary.
1) Net interest income (primary): The core revenue driver is the net interest margin—the difference between interest earned ...
TrustCo Bank Earnings Call Summary
Earnings Call Date:Jul 21, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 21, 2026
Earnings Call Sentiment Positive
The call presents a largely positive operational and financial picture: robust net income growth (+12.8% YoY), stronger net interest income (+9.2% YoY) and expanded margin, meaningful loan and deposit growth, active share repurchases, and solid recurring wealth management revenues. Offsets include a notable YoY increase in nonperforming loans/assets (~21% increase), a year-over-year decline in allowance coverage percentage, and a near-term uptick in noninterest expenses driven by compensation and professional fees. On balance, the strengths in core earning metrics, capital deployment and sustained loan/deposit growth outweigh the modest asset quality and expense concerns.Positive Updates
Net Income and Profitability Improvement
Second quarter net income of $17.0M, up 12.8% year-over-year; return on average assets 1.04% and return on average equity 10.22%.
Negative Updates
Increase in Nonperforming Loans and Assets
Nonperforming loans rose to $21.8M from $17.9M a year ago (≈+21.8% YoY); NPLs-to-total-loans 0.4% vs 0.35% a year ago. Nonperforming assets increased to $23.0M from $19.0M a year ago (≈+21.1% YoY).
Read all updates
Q2-2026 Updates
Positive
Negative
Net Income and Profitability Improvement
Second quarter net income of $17.0M, up 12.8% year-over-year; return on average assets 1.04% and return on average equity 10.22%.
Read all positive updates
Company Guidance
Management's guidance focused on disciplined expense and capital deployment: they expect recurring noninterest expense (net of ORE) of $27.3–$27.8 million per quarter in 2026 (with ORE capped at $250k per quarter) and said recent upticks in salary/benefits and professional fees should normalize next quarter; they reiterated ongoing share repurchases (10.5% of outstanding common stock repurchased under the 2025/2026 programs — over 1.0M shares in 2026 and 1.0M in 2025, >2.3M total since 2020 — and the current phase would repurchase nearly 16% of shares if completed) while noting the bank is well positioned to sustain strong net interest income as rates change, supported by Q2 operating metrics (net income $17.0M, NII $45.6M, NIM 2.87%, yield on earning assets 4.27%, cost of interest‑bearing liabilities 1.79%, deposits $5.7B, average loans $5.3B up 3.8%, provision $0.65M, allowance $54.1M with 249% coverage, NPLs $21.8M / 0.4%).TrustCo Bank Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 241.45M | 278.33M | 263.15M | 244.52M | 205.86M | 185.92M |
| Gross Profit | 150.99M | 186.72M | 169.77M | 188.91M | 199.74M | 183.79M |
| EBITDA | 48.55M | 89.75M | 75.48M | 88.40M | 109.97M | 92.72M |
| Net Income | 65.07M | 61.14M | 48.83M | 58.65M | 75.23M | 61.52M |
Balance Sheet | ||||||
| Total Assets | 6.53B | 6.44B | 6.24B | 6.17B | 6.00B | 6.20B |
| Cash, Cash Equivalents and Short-Term Investments | 44.50M | 293.47M | 344.52M | 501.56M | 524.94M | 456.07M |
| Total Debt | 144.74M | 156.44M | 124.94M | 133.46M | 294.38M | 297.41M |
| Total Liabilities | 5.87B | 5.75B | 5.56B | 5.52B | 5.40B | 5.60B |
| Stockholders Equity | 656.01M | 686.59M | 676.34M | 645.28M | 599.99M | 601.13M |
Cash Flow | ||||||
| Free Cash Flow | 63.88M | 45.74M | 54.56M | 58.46M | 74.84M | 52.52M |
| Operating Cash Flow | 69.08M | 57.60M | 59.44M | 64.13M | 78.63M | 55.37M |
| Investing Cash Flow | -194.32M | -104.67M | -3.75M | -233.59M | -416.63M | -175.26M |
| Financing Cash Flow | 108.29M | 135.69M | 8.12M | 96.87M | -230.87M | 232.26M |
TrustCo Bank Technical Analysis
Positive
57.35
Price Trends
54.79
Positive
50.77
Positive
46.32
Positive
Market Momentum
0.42
Positive
55.00
Neutral
30.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRST, the sentiment is Positive. The current price of 57.35 is above the 20-day moving average (MA) of 56.32, above the 50-day MA of 54.79, and above the 200-day MA of 46.32, indicating a bullish trend. The MACD of 0.42 indicates Positive momentum. The RSI at 55.00 is Neutral, neither overbought nor oversold. The STOCH value of 30.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRST.
TrustCo Bank Risk Analysis
TrustCo Bank disclosed 41 risk factors in its most recent earnings report. TrustCo Bank reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TrustCo Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $836.35M | 9.18 | 14.46% | 2.68% | -0.52% | 98.41% | |
77 Outperform | $945.89M | 12.77 | 8.02% | 2.45% | 20.29% | 19.48% | |
76 Outperform | $1.13B | 13.84 | 15.92% | 1.92% | 18.89% | 38.49% | |
76 Outperform | $1.02B | 11.03 | 10.93% | 2.13% | 32.73% | 30.63% | |
75 Outperform | $969.55M | 11.09 | 12.62% | 3.08% | 12.80% | 65.27% | |
70 Outperform | $930.92M | 15.55 | 9.62% | 2.65% | 6.50% | 28.40% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
TRST
TrustCo Bank
56.55
22.23
64.76%
CAC
Camden National
58.57
20.05
52.05%
CCNE
Cnb Financial
34.82
10.62
43.87%
MPB
Mid Penn Bancorp
38.24
10.22
36.47%
ORRF
Orrstown Financial Services
43.22
10.25
31.07%
FSBC
Five Star
47.21
16.40
53.23%
TrustCo Bank Corporate Events
Financial Disclosures
TrustCo Bank to Release Q2 2026 Results Soon
Neutral
Jul 10, 2026
On July 10, 2026, TrustCo Bank Corp NY announced plans to release its second quarter 2026 financial results on July 21, 2026. The bank also scheduled a conference call for July 22, 2026 to discuss the quarterly performance, signaling an upcoming d...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
TrustCo Shareholders Approve Board, Equity Plan and Auditor
Positive
May 20, 2026
TrustCo Bank Corp NY operates in the financial services industry as a regional banking institution, providing consumer and commercial banking products such as deposits, loans, and related financial services to customers in its core markets. The co...
DividendsShareholder Meetings
TrustCo Bank Declares Quarterly Dividend, Affirms Shareholder Support
Positive
May 20, 2026
On May 19, 2026, TrustCo Bank Corp NY’s board declared a quarterly cash dividend of $0.38 per share, equivalent to $1.52 on an annualized basis, payable on July 1, 2026 to shareholders of record as of June 5, 2026. Management highlighted tha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.