American Century Companies Inc. Increases Stock Position in TrustCo Bank Corp NY $TRST

Key Points

• American Century Companies Inc. increased its stake in TrustCo Bank Corp NY by 8.1%, acquiring an additional 33,171 shares for a total of 440,874 shares.
• TrustCo Bank Corp NY reported an earnings per share (EPS) of $0.79, exceeding analyst expectations, with a revenue of $46.60 million for the last quarter.
• The company has announced a quarterly dividend of $0.38, up from its previous $0.36, representing an annualized yield of 4.0%.

American Century Companies Inc. increased its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440,874 shares of the bank's stock after buying an additional 33,171 shares during the quarter. American Century Companies Inc. owned about 2.32% of TrustCo Bank Corp NY worth $13,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of TrustCo Bank Corp NY by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank's stock worth $38,555,000 after buying an additional 37,096 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in TrustCo Bank Corp NY by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank's stock valued at $41,022,000 after purchasing an additional 15,482 shares in the last quarter. Systematic Financial Management LP boosted its holdings in TrustCo Bank Corp NY by 4.3% in the 4th quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank's stock valued at $38,539,000 after purchasing an additional 47,422 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in TrustCo Bank Corp NY by 3.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 121,913 shares of the bank's stock valued at $4,061,000 after purchasing an additional 3,617 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in TrustCo Bank Corp NY by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 94,687 shares of the bank's stock valued at $2,886,000 after purchasing an additional 2,529 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Performance

TRST traded up $0.47 during trading on Thursday, reaching $39.79. The company's stock had a trading volume of 117,695 shares, compared to its average volume of 118,645. TrustCo Bank Corp NY has a 52-week low of $27.18 and a 52-week high of $39.91. The company's fifty day moving average price is $34.83 and its 200-day moving average price is $32.29. The company has a market capitalization of $750.04 million, a price-to-earnings ratio of 14.16 and a beta of 0.70.

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 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 company had revenue of $46.60 million for the quarter, compared to analyst estimates 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. Investors of record on Friday, September 5th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. This is an increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. TrustCo Bank Corp NY's payout ratio is presently 51.25%.

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.