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

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

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, According to MarketBeat, TrustCo Bank Corp NY has a consensus rating of "Buy".

TrustCo Bank Corp NY Stock Up 1.3%

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

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

TrustCo Bank Corp NY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a $0.38 dividend. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date was Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.3%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 54.09%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in TrustCo Bank Corp NY by 20.8% during the 3rd quarter. CWM LLC now owns 7,856 shares of the bank's stock valued at $285,000 after buying an additional 1,352 shares in the last quarter. GAMMA Investing LLC lifted its holdings in TrustCo Bank Corp NY by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,313 shares of the bank's stock valued at $84,000 after buying an additional 415 shares in the last quarter. Osaic Holdings Inc. lifted its holdings 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 valued at $1,904,000 after buying an additional 58,935 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in TrustCo Bank Corp NY by 8.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 86,453 shares of the bank's stock valued at $2,889,000 after buying an additional 6,681 shares in the last quarter. Finally, HoldCo Asset Management LP bought a new stake in TrustCo Bank Corp NY during the 2nd quarter valued at about $10,795,000. 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.

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