TrustCo Bank Corp NY (NASDAQ:TRST) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• TrustCo Bank Corp NY's stock (NASDAQ:TRST) surpassed its 200-day moving average during trading, reaching a high of $33.58 before closing at $33.38.
• The bank reported quarterly earnings of $0.79 per share, exceeding analyst expectations of $0.69, with revenues of $46.60 million against estimates of $46.16 million.
• TrustCo Bank Corp NY announced a $0.36 quarterly dividend, reflecting an annualized dividend yield of 4.3% and a dividend payout ratio of 51.25%.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.90 and traded as high as $33.58. TrustCo Bank Corp NY shares last traded at $33.38, with a volume of 82,768 shares traded.

TrustCo Bank Corp NY Trading Up 0.1%

The stock has a fifty day moving average of $33.42 and a 200-day moving average of $31.90. The firm has a market capitalization of $634.89 million, a price-to-earnings ratio of 11.88 and a beta of 0.70.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.10. The business had revenue of $46.60 million during the quarter, compared to analyst estimates of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, June 6th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 51.25%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of large investors have recently made changes to their positions in the company. Trustco Bank Corp N Y grew its position in TrustCo Bank Corp NY by 5.4% during the 2nd quarter. Trustco Bank Corp N Y now owns 116,587 shares of the bank's stock worth $3,896,000 after purchasing an additional 5,998 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of TrustCo Bank Corp NY by 3.5% in the second quarter. Geode Capital Management LLC now owns 510,547 shares of the bank's stock worth $17,065,000 after buying an additional 17,358 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of TrustCo Bank Corp NY by 11.9% during the second quarter. PNC Financial Services Group Inc. now owns 14,633 shares of the bank's stock valued at $489,000 after buying an additional 1,553 shares in the last quarter. Acadian Asset Management LLC raised its position in TrustCo Bank Corp NY by 2.7% during the second quarter. Acadian Asset Management LLC now owns 60,669 shares of the bank's stock valued at $2,026,000 after buying an additional 1,598 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in TrustCo Bank Corp NY during the second quarter valued at $402,000. 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.

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