|Bid||7.64 x 800|
|Ask||7.72 x 1100|
|Day's Range||7.53 - 7.69|
|52 Week Range||6.51 - 9.45|
|Beta (3Y Monthly)||1.18|
|PE Ratio (TTM)||12.07|
|Earnings Date||Jul 22, 2019 - Jul 26, 2019|
|Forward Dividend & Yield||0.27 (3.69%)|
|1y Target Est||8.25|
TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that its Board of Directors has approved a stock repurchase program. Under the stock repurchase program, TrustCo may repurchase up to 1,000,000 shares of its common stock, or approximately 1% of its current outstanding shares. The repurchase program will permit shares to be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. Repurchases will be made at management’s discretion over the next twelve months at prices management considers to be attractive and in the best interests of both TrustCo and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and TrustCo’s financial performance.
Rob McCormick became the CEO of TrustCo Bank Corp NY (NASDAQ:TRST) in 2004. First, this article will compare CEO...
Many who want to get marijuana legally turn to Weedmaps ($WEEDMAPS), a user-generated-content website "where businesses and consumers can search and discover cannabis products" among other services it offers. In layman's terms, it is the Google Maps of weed. It's the legitimate, web version of asking a friend who knows a guy who knows a guy's cousin who might sell marijuana. For the sake of breaking down the weed industry in our own backyard, let's take a deeper dive into how many places one could get marijuana by doing a quick search on this website.
The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today declared a quarterly cash dividend of $0.068125 per share, or $0.2725 per share on an annualized basis. This dividend sustains the increased rate of return to our shareholders that the Company announced in August of 2018. The dividend will be payable on July 1, 2019 to shareholders of record at the close of business on June 7, 2019. TrustCo has paid a cash dividend every year since 1904. Chairman, President and Chief Executive Officer Robert J. McCormick said: “We are very pleased that our company’s performance has enabled us to again provide our shareholders with a strong cash dividend. TrustCo’s board and management team remain confident in the strength of the Company’s balance sheet.
CannTrust Holdings Inc. shares soared Tuesday, after the Canadian cannabis company posted a surprise quarterly profit and said it’s on track with a production goal of 50,000 kg of annual capacity by the third quarter.
The U.S.-listed shares of CannTrust Holdings Inc. surged 5.4% in premarket trade Tuesday, after the Canada-based cannabis company reported a surprise first-quarter profit, while revenue more than doubled but fell short of expectations. The company reported net income of C$12.8 million ($9.5 million), or 12 cents a share, after earnings of C$11.4 million, or 12 cents a share, in the same period a year ago. The FactSet consensus was for a loss of 5 cents a share. Total revenue rose 115% to C$16.9 million ($12.5 million), which FactSet said was just shy of consensus of C$17.2 million. Medical net revenue rose 57% to C$11.4 million while wholesale net revenue grew 9-fold to C$5.5 million. Total active patient count rose 70% to 68,000 and harvested production increased more than 400% to 9,400 kilograms. Medical dried revenue per gram fell to C$7.33 from C$7.94 while wholesale dried revenue per gram declined to C$4.54 from C$5.47. The company expects 2019 revenue to increase "significantly" over 2018's results, with growth accelerating in the second quarter. The stock has rallied 18.8% year to date through Monday, while the ETFMG Alternative Harvest ETF has run up 30.4% and the S&P 500 has gained 12.2%.
At Insider Monkey, we pore over the filings of nearly 750 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of December 31. In this […]
Jefferies analyst Owen Bennett has just released a very valuable report concerning cannabis stocks. What’s interesting is that he distinguishes between the stocks that will be dominating the market in five years’ time, and the stocks where investors can find the best value right now. “On a five-year view we continue to believe that Canopy and Aurora will be the global leaders,” Bennett told investors on Friday. However, on a 12 months basis, the analyst believes two smaller Canadian producers, The Green Organic Dutchman Holdings and CannTrust Holdings, currently offer the best value for investors. Let’s take a closer look at how these four stocks measure up now: Global Leaders Canopy Growth Corp (NYSE:CGC) (TSE:WEED)Despite his confidence in Canopy’s leadership position, Bennett nonetheless has a ‘Hold’ rating on the world’s largest cannabis company. He ascribes this rating to CGC’s current high valuation. However, if it comes to picking between Canopy and Aurora, the analyst is clear which stock he prefers:“Since initiation, we have argued that Canopy, along with Aurora, is best placed to dominate on a global basis in the years ahead. The Acreage deal further supports this view, giving Canopy a route to participation in the world's largest market, and, for us, now gives Canopy a notable advantage over Aurora in terms of its long term outlook” writes Bennett. Canopy recently announced a $3.4 billion acquisition of New York-based marijuana stock Acreage Holdings. The deal would go through as soon as cannabis has been fully legalized in the US. And with this in mind, the analyst ramps up his price target from C$64 to $C77 (17% upside potential). On the back of this deal, Canopy is now the only name in the analyst’s coverage which captures US (psychoactive) cannabis exposure in the price target.He continues: “Despite Canopy's strong global positioning, and the additional value creation to potentially come via the Acreage deal, we think this is appropriately reflected in the current price, the stock up >20% since the Acreage news broke (and 80% YTD). As such we maintain our Hold rating.”However it is worth noting that the Acreage deal, although agreed by the two companies, still requires shareholder consent. And activist investor Marcato Capital is fighting the proposed takeover, arguing that the company is worth much more than the agreed $3.4 billion. Marcato owns a 2.7% stake in Acreage. “We believe Acreage’s strategic value, as one of the few multi-state operators of scale in the U.S., with leading positions in the most valuable markets merits a significant premium to any stand-alone cash-flow derived valuation,” Marcato Capital wrote in an open letter to the board. “Furthermore, we believe enterprise values of cannabis companies will skyrocket upon the relaxation of current Federal restrictions.“Accordingly, Marcato believes it is highly imprudent for Acreage to sell itself today at the proposed valuation, with so much unlocked growth and value embedded in the company.” Shareholders will vote on the deal on June 19. Overall, the marijuana grower boasts a cautiously optimistic Moderate Buy analyst consensus. That’s with an average analyst price target of $60 (22% upside potential). We can also see that under the Canadian ticker, the average analyst share price works out at C$76.88. See what other Top Analysts are saying about CGC. Aurora Cannabis Inc (NYSE:ACB) (TSE:ACB)Bennett has a more bullish Buy rating on Canadian cannabis producer Aurora. “Despite a recent good run (up 75% YTD and 29% since late February), we still believe Aurora's current valuation looks compelling relative to true global peers” explains Bennett. “We believe Aurora, along with Canopy, is best placed to dominate globally in the years ahead, yet the story is less appreciated. With infrastructure in place to strongly accelerate near-term Canadian sales as derivative products come on line, and US optionality to become more visible, we see further upside on a 12-month view. Shareholder dilution has been a risk in the past but we'd like to think this will now be more limited” he writes. Indeed, Bennett also boosted his Aurora price target from C$12 to C$14 (17% upside potential). Support for the move comes from multiple directions, including the recent $175 million transaction for premium cannabis producer Whistler, securing the maximum numbers of lots from the German domestic cultivation tender process, and appointing prominent activist consumer goods investor Nelson Peltz as a strategic advisor. Overall, we can see from TipRanks that Aurora also scores a ‘Moderate Buy’ consensus from the Street. That comes with an average analyst price target of C$13.80 (15% upside potential). See what other Top Analysts are saying about ACB. Best Value Now let’s move from two of the market’s biggest players to two smaller cannabis stocks that could make for savvy short-term investing opportunities. As Bennett writes: “We continue to see very good value at CannTrust and TGOD”: Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF)Green Organic is positioning itself to be the dominant player in the very attractive organic segment. Through its subsidiaries, the company produces farm grown and organic cannabis for medical use worldwide. Although a relatively new player, with an IPO in May 2018, the company has put in place all the tools to succeed.“We remain bullish on TGOD and continue to believe it is set up well to succeed” writes Bennett. “If you had to write a business plan entering the cannabis space late as they have done, then TGOD's approach would tick many of the boxes.” Namely: 1) hiring a management team with over 125 years of consumer goods experience; 2) operating in a relatively uncluttered segment (organic) that can command higher price points; and 3) access to robust capacity (enough to support the organic segment).Plus TGOD has also invested ahead in strong derivative infrastructure (i.e. announcing construction of a beverage focused division in June 2018); and invested internationally, for example with the acquisition of HemPoland in the hemp-based CBD space (distribution across 700 locations and 13 countries).However given that it only started shipping at the end of 1Q19, TGOD needs to execute into the rest of the year. “With potential issues with its Hamilton facility now resolved, we see no reason to believe that it won't. If it does then we see strong upside from here.” But- word of warning- this is a stock for the brave. Because if TGDO doesn’t pull through with strong upward momentum on sales across the quarters a sharp selloff is likely.Nonetheless Bennett is feeling confident. He has just increased his price target to C$6.50 from C$6.10 previously. Given the stock is currently trading at just $4.34 this suggests shares can surge by 50% in the coming months. Encouragingly, the Street echoes this optimistic sentiment. TGOD scores a Strong Buy Street consensus with an average analyst price target of C$7.18.See what other Top Analysts are saying about TGOD. CannTrust Holdings Inc (NYSE:CTST) (TSE:TRST) If you haven’t heard of CannTrust Holdings before, listen up. This is a pharmaceutical company that develops and produces medical cannabis for healthcare sectors in Canada. “We think [CannTrust] can be up there with the top global players, yet its multiple is a fraction of global peers” enthuses the Jefferies analyst. He has a C$13 price target on TRST stock (62% upside potential). He believes the company is a very smart, consistent operator with an excellent outlook. “It is one of the strongest medical businesses in Canada, has been performing very well in early rec, is positioned well to capitalise in derivatives (as well as pet care), and has made some shrewd moves internationally (Pharma partnership, European regional operations, US optionality)” explains the analyst. Yet despite the attractive outlook, recent performance has been notably poor (down 30% since Q4 results), with the market reacting to the soft gross margin and negative EBITDA in 4Q. According to Bennett, this is unfair, as management has simply decided to invest for long-term gain rather than short-term profitability by, for example, securing a low cost supply of cannabis for extraction into derivative products and and list on the NYSE. Moreover, in pre-releasing 1Q expectations recently the company moved to reassure investors when it said gross profit margins would return to between 42%-46% (from 35%).Bottom line: “If CannTrust delivers as we expect it to then its valuation looks very appealing at current levels.” This is reflected by the stock’s Moderate Buy analyst consensus and robust average analyst price target. On the Toronto exchange the C$14 price target suggests 75% upside potential; on NYSE the $12.38 figure is 107% above current price levels.See what other Top Analysts are saying about CTST. Enjoy Research Reports on the Stocks in this Article:Aurora Cannabis Inc (ACB) Research ReportCanopy Growth Corp (CGC) Research ReportCannTrust Holdings Inc (CTST) Research ReportGreen Organic Dutchman Holdings Ltd (TGOD) Research Report
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! If you own shares in TrustCo Bank Corp NY (NASDAQ:TRST) then it's worth thinking about how it contrib...
The U.S.-listed shares of CannTrust Holdings Inc. tumbled 13% toward a four-month low in active premarket trade Thursday, after the Canada-based cannabis company announced the pricing of its common stock offering at a deep discount. The company said the 36,363,636 million share offering priced at $5.50, or 14.6% below Wednesday's closing price of $6.44. Of that total, the company is selling 30,909,091 shares for gross proceeds of $170 million, while the balance is being sold by selling shareholders. The stock offering had been announced on April 22. CannTrust's stock is on track to open at the lowest price seen during regular-session hours since Jan. 8, 2019, and for a sixth-straight loss. The stock has rallied 33.5% year to date through Wednesday, while the ETFMG Alternative Harvest ETF has climbed 42.3% and the S&P 500 has gained 16.6%.
Cannabis stocks were mostly higher on Monday, with Canopy Growth Corp. enjoying gains after two bullish analyst notes and CannTrust Holdings Inc. falling on news it plans to issue another $200 million in stock.
The Glenville, New York-based bank said it had earnings of 15 cents per share. The holding company for Trustco Bank posted revenue of $52.1 million in the period. Its revenue net of interest expense was ...
GLENVILLE, N.Y., April 22, 2019 -- TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced first quarter 2019 net income of $14.6 million or $0.150 diluted earnings per.
Canadian cannabis company CannTrust Holdings Inc. said Monday it is planning a secondary offering of $200 million of its common shares with the aim of financing cultivation and facility expansion, expanding outdoor growing, expanding internationally and for upgrading its extraction capacity. BofA Merrill Lynch, Citigroup, Credit Suisse and RBC Capital Markets are lead book-running managers for the offering, with Jefferies and Canaccord Genuity acting as co-managers. Separately, the company provided guidance for the first quarter, based on preliminary, unaudited results. The company is expecting revenue of about C$17 million ($13 million), up from C$7.8 million in the year-earlier period, driven by a 68% increase in medical patients and the first full quarter of adult recreational use following legalization in Canada last October. Net income is expected to range from C$12 million to C$14 million, up from C$11.4 million. The company harvested about 9,424 kg of cannabis from its Niagara Facility, up 96% from the fourth quarter. The average revenue per dry gram rose 14% in the quarter. U.S.-listed shares fell 3.9% in premarket trade, but have gained 29.6% in the last 12 months, while the S&P 500 has gained 8.5%.
TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) today announced that it will release first quarter 2019 results after the market close on April 22, 2019. International callers must dial 1-412-902-4195. Please ask to be joined into the TrustCo Bank Corp NY / TRST call.
A bill seeks to provide protections for companies in states that have legalized weed for medical or recreational use.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Over the past 10 years TrustCo Bank Corp NY (NASDAQ:TRST) has been paying dividends to shareholders...
Shares of CannTrust Holdings Inc. takes a dive Thursday midday, weighing on the broader marijuana sector, after the company swung to a much wider-than-expected fourth-quarter loss and revenue came up well short.
Shares of CannTrust Holdings Inc. tumbled 10% in premarket trade Thursday, after the Canada-based cannabis company reported a much wider than expected fourth-quarter loss and revenue that fell well short of analyst estimates. The company swung to a net loss of C$25.5 million ($19.0 million), or 26 cents a share, from a profit of C$6.3 million, or 8 cents a share, in the same period a year ago. The FactSet per-share consensus was a loss of 4 cents. Revenue rose to C$16.2 million ($12.0 million) from C$7.0 million, but missed the FactSet consensus of C$20.3 million. The company said the growth in sales, which was primarily due to growth in the medical patient base and recreational sales in Canada, was partially offset by the absorption of excise taxes. Total dried cannabis equivalent sold from extracts rose to 1.64 million grams from 0.46 million grams, while the average revenue per gram of cannabis fell to C$4.29 from C$9.34. Cash cost per gram sold fell to C$2.94 from C$5.16. Gross margin before fair value changes to biological assets declined to 35% from 69% in the sequential third quarter. The stock has more than doubled (up 108.2%) year to date through Wednesday, while the ETFMG Alternative Harvest ETF has climbed 44.9% and the S&P 500 has gained 11.9%.
The big shareholder groups in TrustCo Bank Corp NY (NASDAQ:TRST) have power over the company. Institutions will often hold stock in bigger companies, and we expect to see insiders owningRead More...
The brokerage initiated coverage on nine companies in the cannabis sector, giving five buy ratings, two hold ratings and two underperform ratings.