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

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analysts Set New Price Targets

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

TrustCo Bank Corp NY Stock Performance

The business’s fifty day moving average is $51.68 and its two-hundred day moving average is $46.75. The company has a market cap of $934.31 million, a P/E ratio of 15.67 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, April 21st. The bank reported $0.91 EPS for the quarter. The business had revenue of $49.55 million for 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were issued a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.8%. TrustCo Bank Corp NY’s payout ratio is presently 44.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC raised its position in TrustCo Bank Corp NY by 49.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock valued at $128,000 after purchasing an additional 1,380 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TrustCo Bank Corp NY by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock worth $336,000 after buying an additional 468 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of TrustCo Bank Corp NY during the first quarter valued at $560,000. Intech Investment Management LLC increased its stake in shares of TrustCo Bank Corp NY by 374.2% during the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock valued at $1,604,000 after buying an additional 41,540 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock valued at $26,000 after acquiring an additional 755 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.