TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 1-Year High After Dividend Announcement

TrustCo Bank Corp NY (NASDAQ:TRST) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $49.56 and last traded at $49.31, with a volume of 74657 shares trading hands. The stock had previously closed at $49.31.

The newly announced dividend which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.0%. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.57%.

TrustCo Bank Corp NY Trading Up 0.3%

The stock has a market capitalization of $881.69 million, a price-to-earnings ratio of 14.79 and a beta of 0.60. The stock’s 50 day moving average is $45.96 and its two-hundred day moving average is $43.98.

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

Institutional Trading of TrustCo Bank Corp NY

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of TrustCo Bank Corp NY by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,300,043 shares of the bank’s stock valued at $53,731,000 after purchasing an additional 14,498 shares during the period. State Street Corp raised its stake in shares of TrustCo Bank Corp NY by 2.3% in the 4th quarter. State Street Corp now owns 905,841 shares of the bank’s stock valued at $37,771,000 after purchasing an additional 20,678 shares during the period. HoldCo Asset Management LP raised its stake in shares of TrustCo Bank Corp NY by 170.2% in 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 period. American Century Companies Inc. raised its stake in shares of TrustCo Bank Corp NY by 10.0% in the 3rd quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock valued at $18,667,000 after purchasing an additional 46,881 shares during the period. Finally, Invesco Ltd. raised its stake in shares of TrustCo Bank Corp NY by 25.0% in the 3rd quarter. Invesco Ltd. now owns 230,528 shares of the bank’s stock valued at $8,368,000 after purchasing an additional 46,103 shares during the period. Institutional investors and hedge funds 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.