TrustCo Bank Corp NY (NASDAQ:TRST) Shares Cross Above 200 Day Moving Average – Time to Sell?

TrustCo Bank Corp NY (NASDAQ:TRST) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.27 and traded as high as $45.14. TrustCo Bank Corp NY shares last traded at $44.65, with a volume of 153,299 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, TrustCo Bank Corp NY presently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Stock Performance

The business’s fifty day moving average price is $42.89 and its two-hundred day moving average price is $39.27. The stock has a market capitalization of $822.45 million, a P/E ratio of 13.74 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. TrustCo Bank Corp NY had a return on equity of 8.86% and a net margin of 21.96%.The company had revenue of $48.17 million during the quarter, compared to analyst estimates of $48.69 million. During the same quarter last year, the business posted $0.59 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were issued a $0.38 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. TrustCo Bank Corp NY’s payout ratio is 46.77%.

TrustCo Bank Corp NY declared that its board has approved a stock repurchase program on Friday, December 19th that permits the company to buyback $2.00 million in shares. This buyback authorization permits the bank to repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in TrustCo Bank Corp NY by 11.4% during the 4th quarter. GAMMA Investing LLC now owns 2,577 shares of the bank’s stock valued at $107,000 after purchasing an additional 264 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of TrustCo Bank Corp NY by 0.6% during the second quarter. Gabelli Funds LLC now owns 75,730 shares of the bank’s stock valued at $2,531,000 after buying an additional 425 shares during the period. Hantz Financial Services Inc. boosted its position in shares of TrustCo Bank Corp NY by 108.1% during the third quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after buying an additional 453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TrustCo Bank Corp NY by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock valued at $336,000 after buying an additional 468 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of TrustCo Bank Corp NY by 48.4% in the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after buying an additional 555 shares during the period. Institutional investors own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

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.