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

Key Points

• TrustCo Bank Corp NY shares moved above their 200-day moving average, with the stock trading as high as $54.82 and last changing hands at $53.45.
• Analyst sentiment remains positive, as Weiss Ratings reiterated a “buy (b)” rating and MarketBeat shows an overall average rating of Buy.
• The bank recently reported Q1 earnings of $0.91 per share and declared a quarterly dividend of $0.38, which annualizes to a 2.8% yield.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $46.75 and traded as high as $54.82. TrustCo Bank Corp NY shares last traded at $53.45, with a volume of 93,886 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of TrustCo Bank Corp NY in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

TrustCo Bank Corp NY Trading Down 2.3%

The business's 50 day simple moving average is $51.68 and its 200 day simple moving average is $46.75. The firm has a market capitalization of $934.31 million, a PE ratio of 15.67 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The bank reported $0.91 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%. The firm had revenue of $49.55 million during the quarter.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.8%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is currently 44.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. HoldCo Asset Management LP grew its holdings in 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 valued at $31,681,000 after purchasing an additional 549,729 shares during the last quarter. American Century Companies Inc. lifted its stake in TrustCo Bank Corp NY by 10.0% in the third quarter. American Century Companies Inc. now owns 514,237 shares of the bank's stock worth $18,667,000 after purchasing an additional 46,881 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TrustCo Bank Corp NY by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 1,300,043 shares of the bank's stock valued at $53,731,000 after buying an additional 14,498 shares during the period. Gabelli Funds LLC boosted its position in shares of TrustCo Bank Corp NY by 50.2% during the fourth quarter. Gabelli Funds LLC now owns 112,993 shares of the bank's stock valued at $4,670,000 after buying an additional 37,750 shares during the period. Finally, UBS Group AG grew its stake in shares of TrustCo Bank Corp NY by 88.4% during the fourth quarter. UBS Group AG now owns 157,142 shares of the bank's stock valued at $6,495,000 after buying an additional 73,718 shares during the last quarter. Institutional investors own 68.57% of the company's stock.

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.

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