TrustCo Bank Corp NY (NASDAQ:TRST) Sets New 52-Week High – Here’s What Happened

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

TrustCo Bank Corp NY Price Performance

The firm has a market cap of $856.17 million, a P/E ratio of 14.36 and a beta of 0.60. The stock’s 50 day moving average is $45.31 and its two-hundred day moving average is $43.49.

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

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were given 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 (DPR) is 44.57%.

Institutional Trading of TrustCo Bank Corp NY

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of TrustCo Bank Corp NY by 11.4% during the fourth quarter. GAMMA Investing LLC now owns 2,577 shares of the bank’s stock valued at $107,000 after acquiring an additional 264 shares during the period. DUTCH ASSET Corp grew its holdings in shares of TrustCo Bank Corp NY by 5.9% in the 1st quarter. DUTCH ASSET Corp now owns 5,500 shares of the bank’s stock worth $241,000 after purchasing an additional 304 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of TrustCo Bank Corp NY by 0.6% in the 2nd quarter. Gabelli Funds LLC now owns 75,730 shares of the bank’s stock worth $2,531,000 after purchasing an additional 425 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of TrustCo Bank Corp NY by 108.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock worth $32,000 after purchasing an additional 453 shares in the last quarter. Finally, Retirement Planning Group LLC NY lifted its holdings in TrustCo Bank Corp NY by 9.2% during the 1st quarter. Retirement Planning Group LLC NY now owns 5,501 shares of the bank’s stock valued at $243,000 after purchasing an additional 463 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.