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

TrustCo Bank Corp NY (NASDAQ:TRST)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $46.12 and traded as high as $54.85. TrustCo Bank Corp NY shares last traded at $54.66, with a volume of 282,858 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, TrustCo Bank Corp NY presently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Trading Up 0.7%

The stock has a market cap of $955.46 million, a PE ratio of 16.03 and a beta of 0.62. The company’s 50 day moving average is $50.33 and its 200-day moving average is $46.12.

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

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.38 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.8%. TrustCo Bank Corp NY’s payout ratio is 44.57%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in TrustCo Bank Corp NY by 2,435.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after purchasing an additional 755 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at approximately $46,000. Godfrey Financial Associates Inc. acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth approximately $56,000. Hantz Financial Services Inc. grew its position in shares of TrustCo Bank Corp NY by 65.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,445 shares of the bank’s stock worth $60,000 after buying an additional 573 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of TrustCo Bank Corp NY by 48.4% during the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds 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.