Dimensional Fund Advisors LP Buys 15,482 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Dimensional Fund Advisors LP boosted its stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231,523 shares of the bank's stock after acquiring an additional 15,482 shares during the period. Dimensional Fund Advisors LP owned 6.48% of TrustCo Bank Corp NY worth $41,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in TrustCo Bank Corp NY by 1.7% during the 4th quarter. Franklin Resources Inc. now owns 450,602 shares of the bank's stock valued at $15,010,000 after acquiring an additional 7,712 shares in the last quarter. American Century Companies Inc. grew its position in TrustCo Bank Corp NY by 9.5% during the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank's stock valued at $13,581,000 after purchasing an additional 35,343 shares in the last quarter. Invesco Ltd. increased its stake in TrustCo Bank Corp NY by 277.3% in the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank's stock valued at $8,278,000 after buying an additional 182,634 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank's stock worth $5,904,000 after buying an additional 6,867 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in TrustCo Bank Corp NY by 69.5% during the fourth quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank's stock valued at $3,564,000 after purchasing an additional 43,880 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST traded down $0.16 during trading hours on Tuesday, hitting $31.18. The stock had a trading volume of 43,727 shares, compared to its average volume of 86,295. TrustCo Bank Corp NY has a 52 week low of $26.14 and a 52 week high of $38.89. The firm's 50-day moving average price is $30.06 and its two-hundred day moving average price is $32.68. The company has a market capitalization of $593.04 million, a P/E ratio of 12.13 and a beta of 0.64.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $45.35 million for the quarter, compared to the consensus estimate of $44.99 million. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a $0.36 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.44 annualized dividend and a yield of 4.62%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is currently 53.73%.

TrustCo Bank Corp NY announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

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.