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

TrustCo Bank Corp NY (NASDAQ:TRST) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $46.75 and traded as high as $54.82. TrustCo Bank Corp NY shares last traded at $53.45, with a volume of 93,886 shares changing hands.

Analysts Set New Price Targets

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

TrustCo Bank Corp NY Stock Performance

The firm’s fifty day simple moving average is $51.96 and its 200 day simple moving average is $46.88. The stock has a market capitalization of $952.31 million, a P/E ratio of 15.98 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results 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 announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, June 5th. This represents a $1.52 annualized dividend and a yield of 2.8%. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.57%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 755 shares during the last quarter. Kestra Advisory Services LLC bought a new position in TrustCo Bank Corp NY in the fourth quarter valued at about $46,000. Godfrey Financial Associates Inc. bought a new position in TrustCo Bank Corp NY in the fourth quarter valued at about $56,000. Hantz Financial Services Inc. raised its stake in 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 acquiring an additional 573 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 555 shares in the last quarter. 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.