TrustCo Bank Corp NY (NASDAQ:TRST) Shares Gap Up - Still a Buy?

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $30.94, but opened at $31.64. TrustCo Bank Corp NY shares last traded at $31.02, with a volume of 19,329 shares trading hands.

TrustCo Bank Corp NY Price Performance

The firm's fifty day moving average is $31.95 and its two-hundred day moving average is $33.39. The firm has a market cap of $580.11 million, a price-to-earnings ratio of 11.87 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Friday, March 7th. TrustCo Bank Corp NY's payout ratio is currently 56.03%.

TrustCo Bank Corp NY announced that its board has approved a share buyback program on Tuesday, March 18th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

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Institutional Trading of TrustCo Bank Corp NY

Several institutional investors have recently modified their holdings of TRST. Wilmington Savings Fund Society FSB acquired a new stake in TrustCo Bank Corp NY in the 4th quarter valued at about $29,000. Versant Capital Management Inc raised its holdings in shares of TrustCo Bank Corp NY by 263.7% in the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank's stock worth $31,000 after purchasing an additional 683 shares in the last quarter. R Squared Ltd acquired a new stake in TrustCo Bank Corp NY during the fourth quarter valued at approximately $91,000. Cubist Systematic Strategies LLC acquired a new position in TrustCo Bank Corp NY in the fourth quarter worth approximately $93,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth $120,000. Institutional investors and hedge funds own 68.57% of the company's stock.

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.