TrustCo Bank Corp NY $TRST Shares Bought by Sei Investments Co.

Sei Investments Co. raised its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 154.7% in the 1st quarter, Holdings Channel reports. The fund owned 26,900 shares of the bank’s stock after acquiring an additional 16,340 shares during the period. Sei Investments Co.’s holdings in TrustCo Bank Corp NY were worth $1,178,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in TrustCo Bank Corp NY by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 1,300,043 shares of the bank’s stock valued at $53,731,000 after purchasing an additional 14,498 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of TrustCo Bank Corp NY during the 1st quarter worth approximately $446,000. Gabelli Funds LLC lifted its holdings in shares of TrustCo Bank Corp NY by 50.2% in the 4th quarter. Gabelli Funds LLC now owns 112,993 shares of the bank’s stock valued at $4,670,000 after buying an additional 37,750 shares during the period. First Trust Advisors LP boosted its stake in shares of TrustCo Bank Corp NY by 23.4% in the first quarter. First Trust Advisors LP now owns 87,100 shares of the bank’s stock valued at $3,813,000 after buying an additional 16,536 shares in the last quarter. Finally, UBS Group AG grew its holdings in TrustCo Bank Corp NY by 88.4% during the fourth quarter. UBS Group AG now owns 157,142 shares of the bank’s stock worth $6,495,000 after acquiring an additional 73,718 shares during the period. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Trading Up 2.4%

Shares of TrustCo Bank Corp NY stock opened at $55.99 on Wednesday. The company has a 50-day moving average of $54.78 and a two-hundred day moving average of $49.03. TrustCo Bank Corp NY has a 12-month low of $33.27 and a 12-month high of $58.97. The stock has a market cap of $978.71 million, a PE ratio of 15.55 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $0.98 EPS for the quarter. The business had revenue of $51.50 million for the quarter. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, June 5th. TrustCo Bank Corp NY’s payout ratio is presently 42.22%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Monday, June 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.