TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 1-Year High – Still a Buy?

TrustCo Bank Corp NY (NASDAQ:TRST)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $41.17 and last traded at $41.1020, with a volume of 43386 shares. The stock had previously closed at $40.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research report on Monday, November 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Stock Performance

The stock has a market cap of $765.33 million, a P/E ratio of 13.89 and a beta of 0.68. The firm’s 50 day moving average is $37.86 and its 200 day moving average is $35.52.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. TrustCo Bank Corp NY had a net margin of 20.74% and a return on equity of 8.27%. The company had revenue of $47.81 million during the quarter, compared to the consensus estimate of $47.27 million. During the same period last year, the firm earned $0.68 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, December 5th. TrustCo Bank Corp NY’s payout ratio is 50.84%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC grew its stake in shares of TrustCo Bank Corp NY by 16.3% during the first quarter. Cerity Partners LLC now owns 8,393 shares of the bank’s stock worth $256,000 after acquiring an additional 1,175 shares during the last quarter. CWM LLC boosted its stake in TrustCo Bank Corp NY by 23.3% in the 1st quarter. CWM LLC now owns 7,626 shares of the bank’s stock worth $232,000 after purchasing an additional 1,440 shares in the last quarter. Cetera Investment Advisers purchased a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $232,000. GSA Capital Partners LLP grew its position in TrustCo Bank Corp NY by 100.5% during the 1st quarter. GSA Capital Partners LLP now owns 60,672 shares of the bank’s stock worth $1,849,000 after purchasing an additional 30,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in TrustCo Bank Corp NY by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank’s stock valued at $38,555,000 after purchasing an additional 37,096 shares in the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Company Profile

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 and businesses. 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.