TrustCo Bank Corp NY (NASDAQ:TRST) Shares Gap Up – What’s Next?

TrustCo Bank Corp NY (NASDAQ:TRST) shares gapped up before the market opened on Tuesday . The stock had previously closed at $32.58, but opened at $33.69. TrustCo Bank Corp NY shares last traded at $33.31, with a volume of 4,759 shares traded.

TrustCo Bank Corp NY Stock Performance

The stock has a market capitalization of $632.65 million, a PE ratio of 13.31 and a beta of 0.81. The stock’s 50 day moving average is $33.26 and its two-hundred day moving average is $30.52.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a return on equity of 7.24% and a net margin of 18.24%. The firm had revenue of $66.00 million for the quarter. During the same period in the prior year, the firm earned $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 57.60%.

Institutional Trading of TrustCo Bank Corp NY

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of TrustCo Bank Corp NY by 55.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock worth $38,000 after purchasing an additional 410 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in TrustCo Bank Corp NY by 26.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock worth $51,000 after buying an additional 378 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in TrustCo Bank Corp NY by 577.9% during the second quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after buying an additional 2,508 shares during the last quarter. CWM LLC grew its holdings in TrustCo Bank Corp NY by 547.5% in the 2nd quarter. CWM LLC now owns 4,565 shares of the bank’s stock valued at $131,000 after buying an additional 3,860 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter worth $219,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

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 and businesses. 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.