TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 1-Year High – Should You Buy?

TrustCo Bank Corp NY (NASDAQ:TRST)’s share price hit a new 52-week high on Thursday . The stock traded as high as $49.21 and last traded at $49.2150, with a volume of 3206 shares. The stock had previously closed at $48.41.

TrustCo Bank Corp NY Price Performance

The business’s 50 day moving average price is $45.31 and its 200-day moving average price is $43.49. The company has a market cap of $856.17 million, a P/E ratio of 14.36 and a beta of 0.60.

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

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, March 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 44.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Inceptionr LLC lifted its position in TrustCo Bank Corp NY by 30.0% during the 1st quarter. Inceptionr LLC now owns 7,705 shares of the bank’s stock worth $337,000 after buying an additional 1,776 shares in the last quarter. Sei Investments Co. raised its stake in shares of TrustCo Bank Corp NY by 154.7% in the first quarter. Sei Investments Co. now owns 26,900 shares of the bank’s stock worth $1,178,000 after acquiring an additional 16,340 shares during the last quarter. First Trust Advisors LP raised its stake in shares of TrustCo Bank Corp NY by 23.4% in the first quarter. First Trust Advisors LP now owns 87,100 shares of the bank’s stock worth $3,813,000 after acquiring an additional 16,536 shares during the last quarter. DUTCH ASSET Corp lifted its position in shares of TrustCo Bank Corp NY by 5.9% during the first quarter. DUTCH ASSET Corp now owns 5,500 shares of the bank’s stock worth $241,000 after purchasing an additional 304 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of TrustCo Bank Corp NY by 758.8% during the first quarter. Fifth Third Bancorp now owns 4,414 shares of the bank’s stock valued at $193,000 after purchasing an additional 3,900 shares during the last quarter. 68.57% of the stock is owned by institutional investors.

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.