TrustCo Bank Corp NY (NASDAQ:TRST) Share Price Breaks Above 200 Day Moving Average – Time to Sell?

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $53.21 and traded as high as $54.32. TrustCo Bank Corp NY shares last traded at $53.68, with a volume of 114,050 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of TrustCo Bank Corp NY from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, TrustCo Bank Corp NY currently has a consensus rating of “Strong Buy”.

TrustCo Bank Corp NY Trading Down 1.0%

The company’s 50 day moving average is $56.23 and its 200-day moving average is $53.28. The company has a market capitalization of $922.86 million, a P/E ratio of 15.05 and a beta of 0.65.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Wednesday, October 21st. The bank reported $1.02 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 $51.86 million for the quarter.

TrustCo Bank Corp NY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. TrustCo Bank Corp NY’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

A number of hedge funds have recently bought and sold shares of TRST. Farther Finance Advisors LLC increased its position in shares of TrustCo Bank Corp NY by 82.3% during the third quarter. Farther Finance Advisors LLC now owns 452 shares of the bank’s stock valued at $25,000 after acquiring an additional 204 shares in the last quarter. Nykredit A S purchased a new position in TrustCo Bank Corp NY in the 2nd quarter worth approximately $27,000. Integrated Wealth Concepts LLC purchased a new position in TrustCo Bank Corp NY in the 2nd quarter worth approximately $68,000. Nisa Investment Advisors LLC lifted its position in TrustCo Bank Corp NY by 31.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,422 shares of the bank’s stock valued at $78,000 after acquiring an additional 337 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in TrustCo Bank Corp NY by 18.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,204 shares of the bank’s stock valued at $176,000 after acquiring an additional 501 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 is the holding company for Trustco Bank, a community-focused savings bank headquartered in Glenville, New York. Founded in 1902, the company provides banking and financial services to individuals, families, and businesses through a network of branches and digital banking channels.

Trustco Bank’s products and services include checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, home equity loans and lines of credit, and commercial real estate financing.