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TrustCo Bank Corp. NY Message Board

  • elj317 elj317 Jul 3, 2011 12:53 PM Flag

    New Issue

    just spoke with someone who took part in the offering at $4.60 per share. The deadline is past for buying them if all shares were sold but I would doubt that. My question is: With all the new shares on the market, with no earnings growth, the PE ratio will go up significantly resulting in a lower share price-perhaps to $4.60. Maybe that is how they came up with that price. They calculated the PE with new shares factored in and here we are!! Someone tell me why I should not short this stock? I am long TRST(and underwater) but this seems like a "sure thing."

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    • issuing the new shares just tanked the book value too....its a slam dunk short ...maybe the best time since 2004 when jr took over to do for 3's in 2011....mantra since Jan 2011....the only hope is trsty sell the florida branches but we cant see anyone who wants to gamble with the existing toxic mortgages...short short short

    • If you short , then you have to come up with the dividend. There isnt much play in the stock to come out ahead. If you shorted it for a year and the price dropped to 4.60 from 4.90 then you would pay the dividend of 26 cents. No gain here. This stock isnt going anywhere. It will be stuck in the 5 to 6 range. Dividend is Ok, you could by BNY and get a higher return. They are a regional conservative bank that has no vision, not competitive, and no prospects for growth in a dying area. They will muddle along for the next 25 years.

      Buy Railroad stocks.

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