TrustCo Bank Corp NY (NASDAQ:TRST) Reaches New 52-Week High – What’s Next?

TrustCo Bank Corp NY (NASDAQ:TRST)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $49.21 and last traded at $49.2150, with a volume of 3206 shares. The stock had previously closed at $48.41.

TrustCo Bank Corp NY Trading Down 1.3%

The company has a market capitalization of $845.44 million, a price-to-earnings ratio of 14.19 and a beta of 0.60. The company’s 50 day simple moving average is $45.49 and its 200-day simple moving average is $43.60.

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

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 44.57%.

Institutional Trading of TrustCo Bank Corp NY

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in TrustCo Bank Corp NY by 11.4% in the 4th quarter. GAMMA Investing LLC now owns 2,577 shares of the bank’s stock worth $107,000 after buying an additional 264 shares during the last quarter. DUTCH ASSET Corp boosted its stake in TrustCo Bank Corp NY by 5.9% in the 1st quarter. DUTCH ASSET Corp now owns 5,500 shares of the bank’s stock worth $241,000 after buying an additional 304 shares during the last quarter. Gabelli Funds LLC boosted its stake in TrustCo Bank Corp NY by 0.6% in the 2nd quarter. Gabelli Funds LLC now owns 75,730 shares of the bank’s stock worth $2,531,000 after buying an additional 425 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in TrustCo Bank Corp NY by 108.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock worth $32,000 after buying an additional 453 shares during the last quarter. Finally, Retirement Planning Group LLC NY boosted its stake in TrustCo Bank Corp NY by 9.2% in the 1st quarter. Retirement Planning Group LLC NY now owns 5,501 shares of the bank’s stock worth $243,000 after buying an additional 463 shares during the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

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.