TrustCo Bank Corp NY (NASDAQ:TRST) Reaches New 12-Month High – Should You Buy?

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) reached a new 52-week high on Monday . The company traded as high as $48.45 and last traded at $48.2050, with a volume of 5169 shares traded. The stock had previously closed at $48.06.

TrustCo Bank Corp NY Price Performance

The firm has a market cap of $851.34 million, a price-to-earnings ratio of 14.26 and a beta of 0.60. The business’s 50-day moving average price is $44.88 and its two-hundred day moving average price is $43.05.

TrustCo Bank Corp NY Dividend Announcement

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

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several large investors have recently added to or reduced their stakes in TRST. EverSource Wealth Advisors LLC lifted its stake in TrustCo Bank Corp NY by 2,435.5% during the second 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. Hantz Financial Services Inc. lifted its stake in TrustCo Bank Corp NY by 108.1% during the third quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock worth $32,000 after purchasing an additional 453 shares during the last quarter. Kestra Advisory Services LLC bought a new position in TrustCo Bank Corp NY during the fourth quarter worth $46,000. Godfrey Financial Associates Inc. bought a new position in TrustCo Bank Corp NY during the fourth quarter worth $56,000. Finally, Russell Investments Group Ltd. lifted its stake in TrustCo Bank Corp NY by 48.4% during the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after purchasing an additional 555 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

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.