American Century Companies Inc. Acquires 33,171 Shares of 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. boosted 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 filing with the Securities and Exchange Commission (SEC). The firm owned 440,874 shares of the bank's stock after acquiring an additional 33,171 shares during the period. American Century Companies Inc. owned 2.32% of TrustCo Bank Corp NY worth $13,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in TrustCo Bank Corp NY by 51.4% during the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock worth $53,000 after acquiring an additional 592 shares during the period. Cubist Systematic Strategies LLC bought a new position in TrustCo Bank Corp NY during the 4th quarter worth $93,000. Point72 Asset Management L.P. bought a new position in TrustCo Bank Corp NY during the 4th quarter worth $203,000. CWM LLC increased its stake 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. Finally, Cetera Investment Advisers bought a new position in TrustCo Bank Corp NY during the 1st quarter worth $232,000. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Performance

TrustCo Bank Corp NY stock remained flat at $39.79 during mid-day trading on Friday. The company's stock had a trading volume of 154,550 shares, compared to its average volume of 121,456. The firm's 50 day simple moving average is $35.01 and its two-hundred day simple moving average is $32.32. TrustCo Bank Corp NY has a 12-month low of $27.18 and a 12-month high of $40.02. The company has a market cap of $750.04 million, a price-to-earnings ratio of 14.16 and a beta of 0.71.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $0.79 EPS for the quarter, topping 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 analyst estimates of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, September 5th. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 3.8%. TrustCo Bank Corp NY's dividend payout ratio is currently 51.25%.

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.