TrustCo Bank Corp NY (NASDAQ:TRST) Reaches New 12-Month High – Should You Buy?

TrustCo Bank Corp NY (NASDAQ:TRST) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $49.56 and last traded at $49.31, with a volume of 74657 shares traded. The stock had previously closed at $49.31.

TrustCo Bank Corp NY Stock Performance

The firm has a 50-day moving average price of $45.70 and a 200-day moving average price of $43.80. The stock has a market cap of $861.94 million, a PE ratio of 14.46 and a beta of 0.60.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $49.55 million during the quarter. TrustCo Bank Corp NY had a return on equity of 9.21% and a net margin of 22.42%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several large investors have recently modified their holdings of TRST. HoldCo Asset Management LP raised its position in shares of TrustCo Bank Corp NY by 170.2% in the 3rd quarter. HoldCo Asset Management LP now owns 872,744 shares of the bank’s stock worth $31,681,000 after purchasing an additional 549,729 shares during the last quarter. UBS Group AG raised its position in shares of TrustCo Bank Corp NY by 88.4% in the 4th quarter. UBS Group AG now owns 157,142 shares of the bank’s stock worth $6,495,000 after purchasing an additional 73,718 shares during the last quarter. First Trust Advisors LP raised its position in shares of TrustCo Bank Corp NY by 295.2% in the 3rd quarter. First Trust Advisors LP now owns 71,557 shares of the bank’s stock worth $2,598,000 after purchasing an additional 53,452 shares during the last quarter. American Century Companies Inc. increased its holdings in TrustCo Bank Corp NY by 10.0% in the 3rd quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock worth $18,667,000 after buying an additional 46,881 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in TrustCo Bank Corp NY by 25.0% in the 3rd quarter. Invesco Ltd. now owns 230,528 shares of the bank’s stock worth $8,368,000 after buying an additional 46,103 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Company Profile

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.