TrustCo shareholders approve reverse stock split

Photo by Larry Rulison

Trustco’s head office on Wednesday May 25, 2016 in Glenville, NY The bank will turn five of each of its shares into one, thereby increasing the share price to make it more attractive to investors.

Cindy Schultz / Times Union

GLENVILLE – Shareholders of TrustCo Bank Corp NY, the parent company of Trustco Bank, recently approved a five-to-one share split that will significantly increase the price per share of the stock.

Under the plan, every five shares owned will become one, meaning the current price of around $ 7.50 will drop to around $ 37.75. Management believes that the higher price will make the stock more attractive to investors. Shares of TrustCo trade on the Nasdaq under the symbol “TRST” and the reverse split will take place on Friday.

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