SummerHaven Investment Management LLC Has $915,000 Position in TrustCo Bank Corp NY $TRST

SummerHaven Investment Management LLC grew its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 27,365 shares of the bank’s stock after acquiring an additional 487 shares during the quarter. SummerHaven Investment Management LLC’s holdings in TrustCo Bank Corp NY were worth $915,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TRST. Hotchkis & Wiley Capital Management LLC grew its holdings in TrustCo Bank Corp NY by 32.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 312,582 shares of the bank’s stock worth $9,527,000 after acquiring an additional 76,660 shares during the period. GAMMA Investing LLC grew its stake in shares of TrustCo Bank Corp NY by 4,514.3% in the 1st quarter. GAMMA Investing LLC now owns 53,157 shares of the bank’s stock valued at $1,744,000 after buying an additional 52,005 shares during the period. Nuveen LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 1st quarter valued at about $1,494,000. Intech Investment Management LLC grew its stake in shares of TrustCo Bank Corp NY by 374.2% in the 1st quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock valued at $1,604,000 after buying an additional 41,540 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of TrustCo Bank Corp NY by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank’s stock valued at $38,555,000 after buying an additional 37,096 shares during the period. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Price Performance

Shares of TRST opened at $37.68 on Monday. The stock has a 50-day moving average of $36.97 and a 200-day moving average of $33.32. The company has a market cap of $710.27 million, a PE ratio of 13.41 and a beta of 0.71. TrustCo Bank Corp NY has a one year low of $27.18 and a one year high of $40.96.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Monday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. The company had revenue of $46.60 million during the quarter, compared to the consensus estimate of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.0%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 54.09%.

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.