TrustCo Bank Corp NY (NASDAQ:TRST) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.27 and traded as high as $44.50. TrustCo Bank Corp NY shares last traded at $43.12, with a volume of 103,696 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, December 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Trading Down 0.4%

The company’s 50 day moving average is $40.29 and its 200-day moving average is $37.27. The company has a market capitalization of $794.27 million, a P/E ratio of 14.42 and a beta of 0.65.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Tuesday, October 21st. The bank reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. TrustCo Bank Corp NY had a net margin of 20.74% and a return on equity of 8.27%. During the same quarter in the previous year, the firm posted $0.68 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a $0.38 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. TrustCo Bank Corp NY’s dividend payout ratio is presently 50.84%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Several hedge funds have recently added to or reduced their stakes in TRST. Arrowstreet Capital Limited Partnership increased its position in shares of TrustCo Bank Corp NY by 62.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 258,209 shares of the bank’s stock valued at $8,629,000 after acquiring an additional 99,411 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in TrustCo Bank Corp NY in the 2nd quarter valued at approximately $402,000. Strs Ohio purchased a new stake in TrustCo Bank Corp NY during the 1st quarter valued at $442,000. Geode Capital Management LLC increased its holdings in shares of TrustCo Bank Corp NY by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 510,547 shares of the bank’s stock worth $17,065,000 after purchasing an additional 17,358 shares in the last quarter. Finally, HoldCo Asset Management LP bought a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter worth $10,795,000. 68.57% of the stock is owned by institutional investors.

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.