TrustCo Bank Corp NY (NASDAQ:TRST) Hits New 12-Month High – Still a Buy?

TrustCo Bank Corp NY (NASDAQ:TRST)’s share price reached a new 52-week high on Monday . The stock traded as high as $48.45 and last traded at $48.2050, with a volume of 5169 shares trading hands. The stock had previously closed at $48.06.

TrustCo Bank Corp NY Stock Performance

The company has a 50 day simple moving average of $44.75 and a two-hundred day simple moving average of $42.87. The firm has a market cap of $832.11 million, a PE ratio of 13.94 and a beta of 0.60.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, March 6th. TrustCo Bank Corp NY’s payout ratio is presently 44.57%.

Institutional Trading of TrustCo Bank Corp NY

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after buying an additional 755 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of TrustCo Bank Corp NY by 108.1% in the third quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock worth $32,000 after buying an additional 453 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth about $46,000. Godfrey Financial Associates Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth about $56,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of TrustCo Bank Corp NY by 48.4% in the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after buying an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Company Profile

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.