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

TrustCo Bank Corp NY (NASDAQ:TRST) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $46.12 and traded as high as $54.85. TrustCo Bank Corp NY shares last traded at $54.66, with a volume of 282,858 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

TrustCo Bank Corp NY Stock Up 0.7%

The company has a market cap of $955.46 million, a price-to-earnings ratio of 16.03 and a beta of 0.62. The firm has a 50 day moving average price of $50.33 and a two-hundred day moving average price of $46.12.

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

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, June 5th. This represents a $1.52 annualized dividend and a yield of 2.8%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 44.57%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its position in TrustCo Bank Corp NY by 11.4% in the 4th quarter. GAMMA Investing LLC now owns 2,577 shares of the bank’s stock valued at $107,000 after buying an additional 264 shares in the last quarter. DUTCH ASSET Corp boosted its holdings in TrustCo Bank Corp NY by 5.9% in the first quarter. DUTCH ASSET Corp now owns 5,500 shares of the bank’s stock worth $241,000 after acquiring an additional 304 shares in the last quarter. Gabelli Funds LLC grew its stake in TrustCo Bank Corp NY by 0.6% in the second quarter. Gabelli Funds LLC now owns 75,730 shares of the bank’s stock valued at $2,531,000 after acquiring an additional 425 shares during the period. Retirement Planning Group LLC NY grew its stake in TrustCo Bank Corp NY by 9.2% in the first quarter. Retirement Planning Group LLC NY now owns 5,501 shares of the bank’s stock valued at $243,000 after acquiring an additional 463 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TrustCo Bank Corp NY by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock valued at $336,000 after acquiring an additional 468 shares during the period. 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.