TrustCo Bank Corp NY (NASDAQ:TRST) Reaches New 12-Month High – Should You Buy?

TrustCo Bank Corp NY (NASDAQ:TRST) reached a new 52-week high during trading on Wednesday . The stock traded as high as $49.56 and last traded at $49.31, with a volume of 74657 shares traded. The stock had previously closed at $49.31.

TrustCo Bank Corp NY Stock Performance

The firm has a fifty day moving average of $45.70 and a 200 day moving average of $43.80. The company has a market capitalization of $861.94 million, a P/E ratio of 14.46 and a beta of 0.60.

TrustCo Bank Corp NY (NASDAQ:TRST) last released 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 during the quarter.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in TrustCo Bank Corp NY by 66.1% in the 1st quarter. Bank of America Corp DE now owns 82,283 shares of the bank’s stock worth $3,602,000 after buying an additional 32,748 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of TrustCo Bank Corp NY by 23.6% during the 1st quarter. Quantinno Capital Management LP now owns 21,689 shares of the bank’s stock valued at $950,000 after purchasing an additional 4,148 shares during the period. Teton Advisors LLC bought a new stake in shares of TrustCo Bank Corp NY during the 1st quarter valued at about $202,000. Gabelli Funds LLC grew its stake in shares of TrustCo Bank Corp NY by 34.0% during the 1st quarter. Gabelli Funds LLC now owns 151,443 shares of the bank’s stock valued at $6,630,000 after purchasing an additional 38,450 shares during the period. Finally, Inceptionr LLC grew its stake in shares of TrustCo Bank Corp NY by 30.0% during the 1st quarter. Inceptionr LLC now owns 7,705 shares of the bank’s stock valued at $337,000 after purchasing an additional 1,776 shares during the period. 68.57% of the stock is currently 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.