Trade Alert: The General Counsel & Corporate Secretary Of TrustCo Bank Corp NY (NASDAQ:TRST), Michael Hall, Has Just Spent US$105k Buying 84% More Shares

Simply Wall St
·3 min read

Investors who take an interest in TrustCo Bank Corp NY (NASDAQ:TRST) should definitely note that the General Counsel & Corporate Secretary, Michael Hall, recently paid US$33.45 per share to buy US$105k worth of the stock. That certainly has us anticipating the best, especially since they thusly increased their own holding by 84%, potentially signalling some real optimism.

View our latest analysis for TrustCo Bank Corp NY

The Last 12 Months Of Insider Transactions At TrustCo Bank Corp NY

In fact, the recent purchase by Michael Hall was the biggest purchase of TrustCo Bank Corp NY shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of US$34.53 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for TrustCo Bank Corp NY share holders is that insiders were buying at near the current price.

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

insider-trading-volume
insider-trading-volume

TrustCo Bank Corp NY is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership Of TrustCo Bank Corp NY

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 2.9% of TrustCo Bank Corp NY shares, worth about US$19m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About TrustCo Bank Corp NY Insiders?

The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of TrustCo Bank Corp NY we think they are probably pretty confident of a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. While conducting our analysis, we found that TrustCo Bank Corp NY has 1 warning sign and it would be unwise to ignore it.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

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, but not derivative transactions.

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

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.

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