TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 1-Year High at $39.34

Shares of TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) hit a new 52-week high during trading on Wednesday . The stock traded as high as $39.34 and last traded at $39.00, with a volume of 391 shares. The stock had previously closed at $39.16.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRST. StockNews.com lowered shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Saturday, November 19th. TheStreet upgraded shares of TrustCo Bank Corp NY from a “c+” rating to a “b-” rating in a report on Thursday, July 28th.

TrustCo Bank Corp NY Trading Down 0.9 %

The company has a market capitalization of $739.14 million, a price-to-earnings ratio of 10.54 and a beta of 0.94. The stock’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $33.24.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last released its earnings results on Tuesday, October 25th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. TrustCo Bank Corp NY had a net margin of 36.13% and a return on equity of 11.87%. During the same quarter last year, the firm posted $0.87 EPS. On average, analysts anticipate that TrustCo Bank Corp NY will post 3.83 EPS for the current fiscal year.

TrustCo Bank Corp NY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 1st. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.71%. TrustCo Bank Corp NY’s dividend payout ratio is 38.04%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at approximately $141,000. BNP Paribas Arbitrage SNC purchased a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at approximately $359,000. Alliancebernstein L.P. increased its position in shares of TrustCo Bank Corp NY by 14.6% in the 3rd quarter. Alliancebernstein L.P. now owns 12,696 shares of the bank’s stock valued at $399,000 after purchasing an additional 1,615 shares during the last quarter. State Street Corp increased its position in shares of TrustCo Bank Corp NY by 3.2% in the 3rd quarter. State Street Corp now owns 744,227 shares of the bank’s stock valued at $23,643,000 after purchasing an additional 22,747 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of TrustCo Bank Corp NY by 64.4% in the 3rd quarter. Algert Global LLC now owns 18,238 shares of the bank’s stock valued at $573,000 after purchasing an additional 7,146 shares during the last quarter. 65.70% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Company Profile

(Get Rating)

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals, partnerships, and corporations. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.

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