TrustCo Bank (TRST) AI Stock Analysis

• Market Cap: $799.60M
• Dividend Yield: 3.48%
• Average Volume (3M): 121.08K
• Price to Earnings (P/E): 13.4
• Beta (1Y): 0.73
• Revenue Growth: 5.75%
• EPS Growth: 20.52%
• Country: US
• Employees: 740
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.85
• Shares Outstanding: 18,424,019
• 10 Day Avg. Volume: 158,144
• 30 Day Avg. Volume: 121,083
• PEG Ratio: -0.78
• Price to Book (P/B): 0.94
• Price to Sales (P/S): 2.41
• P/FCF Ratio: 11.61
• Enterprise Value/Market Cap: 1.18
• Enterprise Value/Revenue: 3.44
• Enterprise Value/Gross Profit: 5.19
• Enterprise Value/Ebitda: 10.91
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $48.00 ▲(13.72% Upside)

The score is driven primarily by strong financial performance (profitability and conservative leverage) and supportive valuation (moderate P/E with a solid dividend yield). Earnings-call commentary reinforces fundamentals via margin expansion and shareholder returns, while mixed technical signals and measured credit/expense headwinds keep the score from being higher.

Positive Factors

Margin Expansion / Profitability

Sustained net margin near 27.6% TTM signals durable core earnings power from lending and fee activities. Higher margins support consistent internal capital generation for dividends, buybacks and reinvestment, improving resilience to moderate credit or funding shocks over months.

Conservative Leverage and Capital

A low debt-to-equity ratio (~0.20) and stable equity ratio provide a strong capital buffer that lowers financial risk, preserves regulatory flexibility, and supports continued share repurchases/dividends while absorbing credit volatility or modest loan losses over the medium term.

Recurring Fee Income / Wealth Management

A sizable wealth-management business (~$1.27B AUM) contributing ~44% of non-interest income meaningfully diversifies revenue away from net interest margin. Recurring advisory fees increase revenue stability, cross-sell potential, and customer stickiness across economic cycles.

Negative Factors

Allowance Coverage Decline

A $6M reduction in allowance and a decline in coverage to 253% versus prior year lowers the bank's reserve cushion relative to non-performing loans. That weaker buffer increases vulnerability to surprise credit deterioration and could force higher provisions, pressuring earnings and capital plans.

Rising Non-Performing Loans

An uptick in NPLs to $20.7M and a rising NPL ratio (0.39% from 0.37%) signals early asset-quality pressure. If this trend persists, credit costs and loss provisions could increase, constraining loan growth, capital return capacity, and margin stability over the coming quarters.

Free Cash Flow Growth Weakness

Weakening free cash flow growth reduces the bank’s organic funding for buybacks, dividends, branch investments and higher recurring expenses. Over a multi-quarter horizon, constrained FCF can limit strategic flexibility and amplify reliance on capital actions or external funding to sustain shareholder returns.

TrustCo Bank Business Overview & Revenue Model

Company Description

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 company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities. In addition, the company serves as the executor of estates and trustee of personal trusts; provides asset and wealth management, estate planning and related advice, and custodial services; and acts as trustee for various types of employee benefit plans, and corporate pension and profit-sharing trusts. As of December 31, 2021, it operated through 147 banking offices and 163 automatic teller machines in New York, New Jersey, Vermont, Massachusetts, and Florida. The company was founded in 1902 and is headquartered in Glenville, New York.

How the Company Makes Money

TrustCo Bank generates revenue primarily through interest income from its loan portfolio, which includes personal loans, commercial loans, and mortgages. The bank earns interest from the loans it provides to customers, which is typically at a higher rate than the interest it pays on deposits. Additionally, the bank generates non-interest income through fees associated with various banking services, including account maintenance fees, transaction fees, and service charges. TrustCo also benefits from investment income derived from its securities portfolio. The bank's strategic focus on customer relationships and community engagement fosters loyalty, contributing to a stable deposit base and a consistent flow of lending opportunities.

TrustCo Bank Financial Statement Overview

Summary

Strong profitability (improving net margin to ~27.6% TTM) and healthy operating efficiency support a solid score. The balance sheet is conservatively levered (debt-to-equity ~0.20 TTM) with a stable capital base, but cash-flow trends show weaker free cash flow growth, tempering the overall financial strength.

Income Statement

TrustCo Bank demonstrates strong profitability with a consistent gross profit margin above 64% and a net profit margin improving to 27.6% in the TTM. Revenue growth is steady, albeit modest, indicating stable business operations. The EBIT and EBITDA margins show healthy operational efficiency, with recent improvements suggesting effective cost management.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.20 in the TTM, indicating conservative leverage. Return on equity is moderate at 8.3%, showing decent profitability relative to shareholder equity. The equity ratio is stable, suggesting a strong capital base relative to total assets.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth, which is a concern. However, the operating cash flow to net income ratio indicates adequate cash generation relative to profits. The free cash flow to net income ratio is strong, suggesting efficient cash conversion from earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	274.13M	263.15M	244.52M	205.86M	185.92M	195.46M
Gross Profit	181.46M	169.77M	188.91M	199.74M	183.79M	165.15M
EBITDA	86.31M	75.48M	88.40M	109.97M	92.72M	79.58M
Net Income	56.85M	48.83M	58.65M	75.23M	61.52M	52.45M
Balance Sheet
Total Assets	6.35B	6.24B	6.17B	6.00B	6.20B	5.90B
Cash, Cash Equivalents and Short-Term Investments	294.44M	344.52M	501.56M	524.94M	456.07M	486.27M
Total Debt	135.93M	124.94M	133.46M	294.38M	297.41M	267.54M
Total Liabilities	5.66B	5.56B	5.52B	5.40B	5.60B	5.33B
Stockholders Equity	692.01M	676.34M	645.28M	599.99M	601.13M	568.16M
Cash Flow
Free Cash Flow	43.65M	54.56M	58.46M	74.84M	52.52M	58.33M
Operating Cash Flow	55.47M	59.44M	64.13M	78.63M	55.37M	62.16M
Investing Cash Flow	-61.91M	-3.75M	-233.59M	-416.63M	-175.26M	-35.35M
Financing Cash Flow	179.03M	8.12M	96.87M	-230.87M	232.26M	623.44M

TrustCo Bank Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 42.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 42.21 is below the 20-day moving average (MA) of 42.69, below the 50-day MA of 42.55, and above the 200-day MA of 36.36, indicating a bullish trend. The MACD of 0.27 indicates Positive momentum. The RSI at 53.92 is Neutral, neither overbought nor oversold. The STOCH value of 17.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRST.

TrustCo Bank Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPFI	77 Outperform	$678.79M	12.11	12.54%	1.57%	5.87%	37.99%
MPB	76 Outperform	$760.17M	12.94	7.31%	2.58%	12.09%	-15.97%
TRST	75 Outperform	$799.60M	13.35	8.35%	3.48%	5.75%	20.52%
THFF	74 Outperform	$772.19M	10.43	12.46%	3.19%	16.57%	69.64%
ORRF	70 Outperform	$702.35M	8.62	14.59%	2.93%	47.65%	101.00%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
HTB	61 Neutral	$752.19M	11.59	10.88%	1.12%	0.21%	14.54%

TrustCo Bank Corporate Events

TrustCo Bank Unveils Major Share Repurchase Focused Strategy

TrustCo Bank Corp NY, which operates in the banking sector, has been in ongoing discussions with HoldCo Asset Management about its business operations, financial condition, capital allocation, strategic and M&A priorities, and corporate governance, including board composition. On December 19, 2025, the company authorized a share repurchase program for up to two million shares, or roughly 11% of its outstanding stock, and indicated it plans to complete these buybacks in 2026 subject to market conditions and capital needs; the board currently views the shares as highly undervalued and believes repurchases are a better use of capital than pursuing acquisitions, signaling a focus on enhancing shareholder value through capital return rather than expansionary deals.

The most recent analyst rating on (TRST) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on TrustCo Bank stock, see the TRST Stock Forecast page.

TrustCo Bank sets date for Q4 2025 results

On January 12, 2026, TrustCo Bank Corp NY announced plans to release its fourth-quarter 2025 financial results on January 21, 2026, followed by a conference call to discuss the results on January 22, 2026. The timing of the disclosure and follow-up call signaled the company’s intent to provide investors and other stakeholders with detailed insight into its year-end performance and outlook, potentially influencing market perceptions of its financial health and strategic direction.

The most recent analyst rating on (TRST) stock is a Buy with a $49.00 price target. To see the full list of analyst forecasts on TrustCo Bank stock, see the TRST Stock Forecast page.

TrustCo Bank Declares Quarterly Dividend for Shareholders

On November 19, 2025, TrustCo Bank Corp NY announced that its Board of Directors declared a quarterly cash dividend of $0.38 per share, payable on January 2, 2026, to shareholders of record as of December 5, 2025. This decision underscores TrustCo’s commitment to returning capital to shareholders, continuing a 120-year tradition of uninterrupted dividend payments. The company’s financial strength in 2025 has supported this ongoing commitment, enhancing shareholder value and fostering strong stakeholder relationships.

The most recent analyst rating on (TRST) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on TrustCo Bank stock, see the TRST Stock Forecast page.