TrustCo Bank Corp NY (NASDAQ:TRST) Stock Crosses Above 200-Day Moving Average – Time to Sell?

TrustCo Bank Corp NY (NASDAQ:TRST) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.70 and traded as high as $52.58. TrustCo Bank Corp NY shares last traded at $52.24, with a volume of 233,919 shares traded.

Analyst Ratings Changes

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

TrustCo Bank Corp NY Stock Performance

The company has a market capitalization of $913.16 million, a PE ratio of 15.32 and a beta of 0.62. The stock has a fifty day moving average of $49.60 and a two-hundred day moving average of $45.74.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its 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 return on equity of 9.21% and a net margin of 22.42%.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.9%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 44.57%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of institutional investors have recently made changes to their positions in TRST. EverSource Wealth Advisors LLC raised its position in TrustCo Bank Corp NY by 2,435.5% in 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 period. Kestra Advisory Services LLC bought a new stake in TrustCo Bank Corp NY in the fourth quarter worth $46,000. Godfrey Financial Associates Inc. purchased a new stake in TrustCo Bank Corp NY during the fourth quarter valued at about $56,000. Hantz Financial Services Inc. boosted its position 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 valued at $60,000 after buying an additional 573 shares during the period. Finally, Russell Investments Group Ltd. grew its stake 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 valued at $62,000 after buying an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

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.