TrustCo Bank Corp NY (NASDAQ:TRST) Stock Passes Above 200 Day Moving Average - Should You Sell?

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.68 and traded as high as $32.53. TrustCo Bank Corp NY shares last traded at $32.22, with a volume of 83,247 shares traded.

TrustCo Bank Corp NY Trading Up 0.8%

The company has a market capitalization of $634.32 million, a P/E ratio of 12.44 and a beta of 0.64. The business has a 50 day moving average price of $31.33 and a 200 day moving average price of $31.61.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. TrustCo Bank Corp NY had a net margin of 19.14% and a return on equity of 7.59%. The firm had revenue of $45.35 million during the quarter, compared to analysts' expectations of $44.99 million.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 53.73%.

TrustCo Bank Corp NY announced that its board has approved a share buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of TrustCo Bank Corp NY

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in TrustCo Bank Corp NY by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank's stock valued at $38,555,000 after acquiring an additional 37,096 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of TrustCo Bank Corp NY by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank's stock valued at $41,022,000 after purchasing an additional 15,482 shares in the last quarter. Systematic Financial Management LP grew its position in shares of TrustCo Bank Corp NY by 4.3% in the 4th quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank's stock valued at $38,539,000 after purchasing an additional 47,422 shares during the period. Franklin Resources Inc. increased its stake in TrustCo Bank Corp NY by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 450,602 shares of the bank's stock worth $15,010,000 after purchasing an additional 7,712 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in TrustCo Bank Corp NY by 8.1% during the 1st quarter. American Century Companies Inc. now owns 440,874 shares of the bank's stock worth $13,438,000 after buying an additional 33,171 shares during the period. Institutional investors and hedge funds 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.