TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 12-Month High – Here’s What Happened

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) reached a new 52-week high during trading on Wednesday . The stock traded as high as $55.82 and last traded at $55.4950, with a volume of 15581 shares traded. The stock had previously closed at $54.91.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, TrustCo Bank Corp NY currently has a consensus rating of “Buy”.

TrustCo Bank Corp NY Stock Performance

The firm has a market capitalization of $978.01 million, a PE ratio of 16.41 and a beta of 0.62. The company has a fifty day moving average price of $50.67 and a 200-day moving average price of $46.29.

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 net margin of 22.42% and a return on equity of 9.21%. The company had revenue of $49.55 million for the quarter.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued 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 dividend yield of 2.7%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 44.57%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC lifted its holdings in shares of TrustCo Bank Corp NY by 49.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock worth $128,000 after acquiring an additional 1,380 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TrustCo Bank Corp NY by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock valued at $336,000 after buying an additional 468 shares during the period. Jane Street Group LLC bought a new position in shares of TrustCo Bank Corp NY during the first quarter valued at approximately $560,000. Intech Investment Management LLC grew its stake in shares of TrustCo Bank Corp NY by 374.2% during the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock valued at $1,604,000 after buying an additional 41,540 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after buying an additional 755 shares during the period. 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.