TrustCo Bank Corp NY (NASDAQ:TRST) Stock Passes Above 200-Day Moving Average – Should You Sell?

TrustCo Bank Corp NY (NASDAQ:TRST)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.95 and traded as high as $58.50. TrustCo Bank Corp NY shares last traded at $58.42, with a volume of 141,668 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research report on Friday, September 4th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

TrustCo Bank Corp NY Trading Up 0.1%

The stock has a market cap of $995.29 million, a PE ratio of 16.24 and a beta of 0.63. The company’s 50 day moving average is $56.45 and its 200-day moving average is $51.00.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Tuesday, July 21st. The bank reported $0.98 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.The company had revenue of $51.50 million during the quarter.

TrustCo Bank Corp NY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.40 per share. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.7%. TrustCo Bank Corp NY’s payout ratio is 44.44%.

Institutional Trading of TrustCo Bank Corp NY

Hedge funds have recently made changes to their positions in the stock. Nykredit A S acquired a new stake in TrustCo Bank Corp NY in the second quarter valued at $27,000. EverSource Wealth Advisors LLC increased its position in shares of TrustCo Bank Corp NY by 2,435.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after purchasing an additional 755 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at about $46,000. Integrated Wealth Concepts LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter valued at about $68,000. Finally, Godfrey Financial Associates Inc. bought a new position in shares of TrustCo Bank Corp NY during the fourth quarter worth about $56,000. Institutional investors and hedge funds 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.