TrustCo Bank Corp NY (NASDAQ:TRST) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

TrustCo Bank Corp NY (NASDAQ:TRST)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.84 and traded as high as $35.25. TrustCo Bank Corp NY shares last traded at $35.11, with a volume of 77,964 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, TrustCo Bank Corp NY has a consensus rating of “Buy”.

TrustCo Bank Corp NY Trading Up 1.3%

The business’s 50-day moving average price is $37.55 and its 200-day moving average price is $33.84. The stock has a market cap of $661.86 million, a PE ratio of 12.49 and a beta of 0.66.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.10. The company had revenue of $46.60 million for the quarter, compared to the consensus estimate of $46.16 million. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%.

TrustCo Bank Corp NY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.52 annualized dividend and a yield of 4.3%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. TrustCo Bank Corp NY’s payout ratio is presently 54.09%.

Institutional Trading of TrustCo Bank Corp NY

Several large investors have recently bought and sold shares of TRST. HoldCo Asset Management LP purchased a new stake in TrustCo Bank Corp NY during the 2nd quarter worth approximately $10,795,000. Arrowstreet Capital Limited Partnership grew its position in TrustCo Bank Corp NY by 62.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 258,209 shares of the bank’s stock worth $8,629,000 after purchasing an additional 99,411 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in TrustCo Bank Corp NY by 32.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 312,582 shares of the bank’s stock worth $9,527,000 after purchasing an additional 76,660 shares during the last quarter. Osaic Holdings Inc. grew its position in TrustCo Bank Corp NY by 1,764.0% during the 2nd quarter. Osaic Holdings Inc. now owns 62,276 shares of the bank’s stock worth $1,904,000 after purchasing an additional 58,935 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $1,494,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Company Profile

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 and businesses. 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.