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

Shares of TrustCo Bank Corp NY (NASDAQ:TRST) gapped up prior to trading 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 trading hands.

TrustCo Bank Corp NY Stock Down 0.6 %

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

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

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.33%. TrustCo Bank Corp NY’s dividend payout ratio is presently 57.60%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several large investors have recently made changes to their positions in TRST. GAMMA Investing LLC grew its position in TrustCo Bank Corp NY by 55.3% during the third quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of TrustCo Bank Corp NY by 26.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after acquiring an additional 378 shares during the period. Meeder Asset Management Inc. increased its stake in shares of TrustCo Bank Corp NY by 577.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock valued at $85,000 after purchasing an additional 2,508 shares in the last quarter. CWM LLC raised 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 worth $131,000 after purchasing an additional 3,860 shares during the period. Finally, SG Americas Securities LLC purchased a new position in TrustCo Bank Corp NY during the third quarter worth approximately $229,000. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Company Profile

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.