Even if it's not a huge purchase, we think it was good to see that Robert McCormick, the President of TrustCo Bank Corp NY (NASDAQ:TRST) recently shelled out US$59k to buy stock, at US$32.90 per share. Although the purchase is not a big one, by either a percentage standpoint or absolute value, it can be seen as a good sign.

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

Notably, that recent purchase by President Robert McCormick was not the only time they bought TrustCo Bank Corp NY shares this year. They previously made an even bigger purchase of US$196k worth of shares at a price of US$31.63 per share. That means that an insider was happy to buy shares at around the current price of US$33.56. 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. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.

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

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are 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. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 2.7% of TrustCo Bank Corp NY shares, worth about US$18m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

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

The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in TrustCo Bank Corp NY shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing TrustCo Bank Corp NY. For example - TrustCo Bank Corp NY has 1 warning sign we think you should be aware of.