Trustco Bank Corp N Y Boosts Position in TrustCo Bank Corp NY $TRST

Trustco Bank Corp N Y boosted its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 116,587 shares of the bank’s stock after buying an additional 5,998 shares during the quarter. TrustCo Bank Corp NY makes up about 3.8% of Trustco Bank Corp N Y’s portfolio, making the stock its 7th largest position. Trustco Bank Corp N Y’s holdings in TrustCo Bank Corp NY were worth $3,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its position in shares of TrustCo Bank Corp NY by 49.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock worth $128,000 after buying an additional 1,380 shares during the period. Cetera Investment Advisers acquired a new stake in TrustCo Bank Corp NY during the 1st quarter worth $232,000. CWM LLC grew its holdings in TrustCo Bank Corp NY by 23.3% during the 1st quarter. CWM LLC now owns 7,626 shares of the bank’s stock worth $232,000 after acquiring an additional 1,440 shares during the period. EntryPoint Capital LLC raised its position in shares of TrustCo Bank Corp NY by 14.4% during the 1st quarter. EntryPoint Capital LLC now owns 7,654 shares of the bank’s stock valued at $233,000 after acquiring an additional 964 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of TrustCo Bank Corp NY by 16.3% in the 1st quarter. Cerity Partners LLC now owns 8,393 shares of the bank’s stock valued at $256,000 after purchasing an additional 1,175 shares during the period. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Up 0.0%

TRST opened at $39.81 on Friday. TrustCo Bank Corp NY has a 12 month low of $27.18 and a 12 month high of $40.96. The company has a fifty day simple moving average of $37.83 and a 200 day simple moving average of $35.11. The stock has a market cap of $733.46 million, a P/E ratio of 13.31 and a beta of 0.68.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. TrustCo Bank Corp NY had a return on equity of 8.27% and a net margin of 20.74%.The firm had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. During the same period in the previous year, the company posted $0.68 earnings per share.

TrustCo Bank Corp NY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a $0.38 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. TrustCo Bank Corp NY’s payout ratio is presently 50.84%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

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.