TrustCo Bank Corp NY (NASDAQ:TRST) Shares Cross Above 200 Day Moving Average – Time to Sell?

by · The Markets Daily

Shares of TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $52.27 and traded as high as $56.20. TrustCo Bank Corp NY shares last traded at $55.69, with a volume of 107,460 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of TrustCo Bank Corp NY from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, TrustCo Bank Corp NY has an average rating of “Buy”.

Check Out Our Latest Stock Analysis on TrustCo Bank Corp NY

TrustCo Bank Corp NY Stock Performance

The firm’s fifty day simple moving average is $56.76 and its 200 day simple moving average is $52.27. The stock has a market capitalization of $948.40 million, a P/E ratio of 15.47 and a beta of 0.65.

TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.98 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 22.76% and a return on equity of 9.62%. The business had revenue of $51.50 million during the quarter.

TrustCo Bank Corp NY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were issued a dividend of $0.40 per share. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. TrustCo Bank Corp NY’s payout ratio is presently 44.44%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Several hedge funds have recently modified their holdings of the company. Nykredit A S acquired a new position in TrustCo Bank Corp NY in the 2nd quarter worth about $27,000. Integrated Wealth Concepts LLC acquired a new stake in shares of TrustCo Bank Corp NY during the second quarter valued at about $68,000. GAMMA Investing LLC boosted its stake in shares of TrustCo Bank Corp NY by 18.5% during the second quarter. GAMMA Investing LLC now owns 3,204 shares of the bank’s stock valued at $176,000 after purchasing an additional 501 shares in the last quarter. Bouchey Financial Group Ltd. bought a new stake in shares of TrustCo Bank Corp NY during the second quarter worth about $228,000. Finally, Fifth Third Bancorp grew its holdings in shares of TrustCo Bank Corp NY by 758.8% during the first quarter. Fifth Third Bancorp now owns 4,414 shares of the bank’s stock worth $193,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

(Get Free Report)

TrustCo Bank Corp NY is the bank holding company for Trustco Bank, a community-focused savings bank headquartered in Glenville, New York. Founded in 1902, Trustco has built its business around relationship banking and serves individuals, families, and businesses through a network of branches and digital banking services.

Trustco Bank provides a range of traditional banking products, including deposit accounts, checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, personal loans, and commercial lending.

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