This particular bank has such growth in mortgage loan activity. They have seen increases in mortgage activity, and welcome over 3% yield spreads, even with these low rates currently in place. As rates rise, variable rate loans issued would be advantageous to the loan holder by demanding higher rates versus an artificially deflated interest rate. With over 70% of its loan portfolio in these assets, rest assured that TrustCo Bank Corp NY (NASDAQ:TRST) will capitalize on two fronts: real estate and rising interest rates.
TrustCo Bank Corp NY (NASDAQ:TRST)’s stock has taken quite a leap in the last few trading days, breaking out of a holding pattern its been in to accurately reflect the second quarter EPS surprise the company announced on July 22, 2013. Their $0.201 EPS beat analyst estimates by $0.01 and offered optimistic guidance for the rest of the year.
This integrated circuits manufacturer has a global footprint and is estimated to bring in over $2.5 billion in revenue for 2013, which would be a 50% increase from 2009. Analysts expect this company to continue to expand at a rate of 7%-9% year-over-year, which means your investment should grow along with it. The average analyst has this stock pegged at $33 per share, and if we can add it the rising market premium on interest rate hikes, this stock should trade above $35 by year’s end. At the current price of around $27 per share, there is much more upside than downside here.
If you hadn’t already have seen Nokia Corporation (ADR) (NYSE:NOK)’s surge against Apple and Samsung, you probably have been living under a rock. The chief of Nokia Corporation (ADR) (NYSE:NOK), Mr. Stephen Elop, has launched a new phone advertised to directly assault the iconic iPhone and the neuve riche Galaxy.