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

TrustCo Bank Corp NY (NASDAQ:TRST)’s share price hit a new 52-week high on Friday . The stock traded as high as $52.98 and last traded at $52.7390, with a volume of 18131 shares traded. The stock had previously closed at $52.66.

TrustCo Bank Corp NY Trading Up 0.3%

The company’s 50 day moving average price is $47.59 and its two-hundred day moving average price is $44.82. The firm has a market cap of $922.86 million, a PE ratio of 15.48 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share for the quarter. The business had revenue of $49.55 million for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, June 5th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 44.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of TrustCo Bank Corp NY by 2,435.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock valued at $26,000 after buying an additional 755 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of TrustCo Bank Corp NY by 108.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after buying an additional 453 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at $46,000. Godfrey Financial Associates Inc. purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at $56,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of TrustCo Bank Corp NY by 48.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock valued at $62,000 after buying an additional 555 shares in the last quarter. Hedge funds and other 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.