TrustCo Bank Corp NY (NASDAQ:TRST) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $42.36 and traded as high as $46.81. TrustCo Bank Corp NY shares last traded at $46.30, with a volume of 108,090 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, TrustCo Bank Corp NY currently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Price Performance

The firm has a fifty day simple moving average of $44.62 and a two-hundred day simple moving average of $42.40. The firm has a market capitalization of $813.86 million, a P/E ratio of 13.63 and a beta of 0.57.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. TrustCo Bank Corp NY had a return on equity of 9.21% and a net margin of 22.42%.The business had revenue of $48.17 million during the quarter, compared to analyst estimates of $48.69 million. During the same period in the prior year, the company earned $0.59 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, March 6th. TrustCo Bank Corp NY’s dividend payout ratio is 46.77%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

A number of large investors have recently made changes to their positions in TRST. Cubist Systematic Strategies LLC boosted its holdings in shares of TrustCo Bank Corp NY by 49.2% in the first quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock worth $128,000 after acquiring an additional 1,380 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TrustCo Bank Corp NY by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock worth $336,000 after acquiring an additional 468 shares during the period. Jane Street Group LLC bought a new position in shares of TrustCo Bank Corp NY in the first quarter worth $560,000. Intech Investment Management LLC boosted its holdings in shares of TrustCo Bank Corp NY by 374.2% in the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock worth $1,604,000 after acquiring an additional 41,540 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after acquiring an additional 755 shares during the period. 68.57% of the stock is owned by institutional investors.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.