TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 1-Year High – Here’s What Happened

TrustCo Bank Corp NY (NASDAQ:TRST)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $52.98 and last traded at $52.7390, with a volume of 18131 shares traded. The stock had previously closed at $52.66.

TrustCo Bank Corp NY Trading Down 0.2%

The business has a 50 day moving average of $47.77 and a 200-day moving average of $44.88. The stock has a market cap of $918.22 million, a PE ratio of 15.40 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. The firm had revenue of $49.55 million for the quarter. TrustCo Bank Corp NY had a return on equity of 9.21% and a net margin of 22.42%.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, June 5th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 44.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of TrustCo Bank Corp NY by 2,435.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock valued at $26,000 after purchasing an additional 755 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of TrustCo Bank Corp NY by 108.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after purchasing an additional 453 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at approximately $46,000. Godfrey Financial Associates Inc. purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at approximately $56,000. Finally, Russell Investments Group Ltd. grew its stake in shares of TrustCo Bank Corp NY by 48.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock valued at $62,000 after purchasing an additional 555 shares during the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

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.