TrustCo Bank Corp NY (NASDAQ:TRST) Stock Price Crosses Above 200 Day Moving Average of $34.85

Shares of TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.85 and traded as high as $38.02. TrustCo Bank Corp NY shares last traded at $37.96, with a volume of 107,792 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Saturday, November 19th.

TrustCo Bank Corp NY Price Performance

The company has a market capitalization of $723.21 million, a P/E ratio of 10.32 and a beta of 0.93. The firm has a fifty day moving average price of $37.84 and a 200-day moving average price of $34.85.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last released its earnings results on Monday, October 24th. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. The company had revenue of $52.18 million during the quarter, compared to analyst estimates of $48.13 million. TrustCo Bank Corp NY had a return on equity of 11.87% and a net margin of 36.13%. During the same period in the prior year, the company posted $0.87 earnings per share. On average, research analysts forecast that TrustCo Bank Corp NY will post 3.83 EPS for the current year.

TrustCo Bank Corp NY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.79%. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, December 1st. TrustCo Bank Corp NY’s dividend payout ratio is 39.13%.

Insider Buying and Selling at TrustCo Bank Corp NY

In other news, Director Kimberly Adams Russell acquired 1,100 shares of TrustCo Bank Corp NY stock in a transaction on Tuesday, December 6th. The stock was acquired at an average cost of $37.88 per share, with a total value of $41,668.00. Following the completion of the acquisition, the director now owns 4,700 shares in the company, valued at $178,036. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in TrustCo Bank Corp NY during the first quarter valued at $30,000. Lazard Asset Management LLC purchased a new stake in shares of TrustCo Bank Corp NY during the first quarter worth $34,000. Captrust Financial Advisors lifted its position in shares of TrustCo Bank Corp NY by 104.4% during the first quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock worth $36,000 after acquiring an additional 569 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of TrustCo Bank Corp NY during the second quarter worth $54,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of TrustCo Bank Corp NY by 16.4% during the second quarter. Mutual of America Capital Management LLC now owns 3,224 shares of the bank’s stock worth $99,000 after acquiring an additional 455 shares in the last quarter. 65.30% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Company Profile

(Get Rating)

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.

Further Reading

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