TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report)’s share price hit a new 52-week high on Thursday . The company traded as high as $55.00 and last traded at $54.69, with a volume of 123776 shares trading hands. The stock had previously closed at $53.92.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research note on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, TrustCo Bank Corp NY currently has an average rating of “Buy”.
Get Our Latest Stock Report on TrustCo Bank Corp NY
TrustCo Bank Corp NY Stock Performance
TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last released its earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%. The business had revenue of $49.55 million for the quarter.
TrustCo Bank Corp NY Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, June 5th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 44.57%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of TRST. HoldCo Asset Management LP lifted its stake in TrustCo Bank Corp NY by 170.2% in the 3rd quarter. HoldCo Asset Management LP now owns 872,744 shares of the bank’s stock worth $31,681,000 after purchasing an additional 549,729 shares in the last quarter. UBS Group AG increased its holdings in shares of TrustCo Bank Corp NY by 88.4% during the 4th quarter. UBS Group AG now owns 157,142 shares of the bank’s stock worth $6,495,000 after buying an additional 73,718 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of TrustCo Bank Corp NY by 295.2% during the 3rd quarter. First Trust Advisors LP now owns 71,557 shares of the bank’s stock worth $2,598,000 after buying an additional 53,452 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of TrustCo Bank Corp NY by 10.0% during the 3rd quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock worth $18,667,000 after buying an additional 46,881 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of TrustCo Bank Corp NY by 25.0% during the 3rd quarter. Invesco Ltd. now owns 230,528 shares of the bank’s stock worth $8,368,000 after buying an additional 46,103 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other 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.
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