TrustCo Bank Corp NY (NASDAQ:TRST) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

TrustCo Bank Corp NY (NASDAQ:TRST) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $43.49 and traded as high as $48.89. TrustCo Bank Corp NY shares last traded at $48.41, with a volume of 101,861 shares changing hands.

TrustCo Bank Corp NY Stock Performance

The business has a 50 day simple moving average of $45.31 and a 200-day simple moving average of $43.49. The stock has a market capitalization of $846.21 million, a P/E ratio of 14.20 and a beta of 0.60.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued 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 during 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 company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 44.57%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Large investors have recently modified their holdings of the stock. HoldCo Asset Management LP boosted its stake in shares of TrustCo Bank Corp NY by 170.2% during the 3rd quarter. HoldCo Asset Management LP now owns 872,744 shares of the bank’s stock worth $31,681,000 after acquiring an additional 549,729 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of TrustCo Bank Corp NY by 10.0% during the 3rd quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock worth $18,667,000 after acquiring an additional 46,881 shares in the last quarter. R Squared Ltd boosted its stake in shares of TrustCo Bank Corp NY by 4.6% during the 4th quarter. R Squared Ltd now owns 18,176 shares of the bank’s stock worth $751,000 after acquiring an additional 794 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of TrustCo Bank Corp NY by 10.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,219 shares of the bank’s stock worth $505,000 after acquiring an additional 1,180 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of TrustCo Bank Corp NY during the 4th quarter worth $322,000. 68.57% of the stock is owned by 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.