Acadian Asset Management LLC Sells 34,388 Shares of TrustCo Bank Corp NY $TRST

Acadian Asset Management LLC lowered its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,071 shares of the bank's stock after selling 34,388 shares during the period. Acadian Asset Management LLC owned about 0.31% of TrustCo Bank Corp NY worth $1,798,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TRST. GAMMA Investing LLC lifted its position in shares of TrustCo Bank Corp NY by 51.4% during the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock valued at $53,000 after buying an additional 592 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth $93,000. Point72 Asset Management L.P. purchased a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at about $203,000. CWM LLC grew its stake in TrustCo Bank Corp NY by 23.3% in the 1st quarter. CWM LLC now owns 7,626 shares of the bank's stock worth $232,000 after buying an additional 1,440 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in TrustCo Bank Corp NY in the first quarter valued at $232,000. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Price Performance

NASDAQ:TRST opened at $38.52 on Wednesday. The company has a market capitalization of $726.10 million, a price-to-earnings ratio of 13.71 and a beta of 0.72. The business has a 50 day moving average of $36.38 and a 200 day moving average of $32.87. TrustCo Bank Corp NY has a 1-year low of $27.18 and a 1-year high of $40.96.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.The firm had revenue of $46.60 million for the quarter, compared to analysts' expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, September 5th. TrustCo Bank Corp NY's payout ratio is currently 54.09%.

TrustCo Bank Corp NY 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.

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