TrustCo Bank Corp NY (NASDAQ:TRST) Shares Cross Above 200-Day Moving Average of $34.85

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.85 and traded as high as $38.02. TrustCo Bank Corp NY shares last traded at $37.96, with a volume of 107,792 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th.

TrustCo Bank Corp NY Price Performance

The company has a market capitalization of $723.21 million, a P/E ratio of 10.32 and a beta of 0.93. The company has a 50 day moving average of $37.84 and a 200-day moving average of $34.85.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.13. The company had revenue of $52.18 million for the quarter, compared to analysts’ expectations of $48.13 million. TrustCo Bank Corp NY had a return on equity of 11.87% and a net margin of 36.13%. During the same period last year, the firm earned $0.87 earnings per share. Research analysts predict that TrustCo Bank Corp NY will post 3.83 EPS for the current fiscal year.

TrustCo Bank Corp NY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd were paid a $0.36 dividend. The ex-dividend date was Thursday, December 1st. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 3.79%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 39.13%.

Insider Buying and Selling

In other TrustCo Bank Corp NY news, Director Kimberly Adams Russell bought 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The shares were bought at an average cost of $37.88 per share, with a total value of $41,668.00. Following the completion of the purchase, the director now directly owns 4,700 shares of the company’s stock, valued at $178,036. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by insiders.

Institutional Trading of TrustCo Bank Corp NY

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in TrustCo Bank Corp NY by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 232,639 shares of the bank’s stock worth $7,310,000 after buying an additional 7,292 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in TrustCo Bank Corp NY in the third quarter worth about $141,000. BNP Paribas Arbitrage SNC purchased a new stake in TrustCo Bank Corp NY in the third quarter worth about $359,000. Alliancebernstein L.P. lifted its holdings in TrustCo Bank Corp NY by 14.6% in the third quarter. Alliancebernstein L.P. now owns 12,696 shares of the bank’s stock worth $399,000 after buying an additional 1,615 shares during the period. Finally, State Street Corp lifted its holdings in TrustCo Bank Corp NY by 3.2% in the third quarter. State Street Corp now owns 744,227 shares of the bank’s stock worth $23,643,000 after buying an additional 22,747 shares during the period. 65.30% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Company Profile

(Get Rating)

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, partnerships, and corporations. 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.

Further Reading

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