Bank of America Corp DE grew its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 66.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,283 shares of the bank's stock after purchasing an additional 32,748 shares during the quarter. Bank of America Corp DE owned about 0.47% of TrustCo Bank Corp NY worth $3,602,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in TrustCo Bank Corp NY by 2,435.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank's stock valued at $26,000 after purchasing an additional 755 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth $46,000. Godfrey Financial Associates Inc. acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth $56,000. Hantz Financial Services Inc. boosted its position in shares of TrustCo Bank Corp NY by 65.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,445 shares of the bank's stock valued at $60,000 after acquiring an additional 573 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of TrustCo Bank Corp NY by 48.4% in the third quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank's stock valued at $62,000 after acquiring an additional 555 shares during the period. Institutional investors own 68.57% of the company's stock.
TrustCo Bank Corp NY Trading Down 0.4%
Shares of NASDAQ TRST opened at $57.13 on Friday. The company has a market cap of $972.92 million, a price-to-earnings ratio of 15.87 and a beta of 0.62. TrustCo Bank Corp NY has a 12 month low of $34.31 and a 12 month high of $58.97. The stock has a 50-day moving average price of $55.81 and a two-hundred day moving average price of $50.16.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.98 earnings per share for the quarter. The company had revenue of $51.50 million for the quarter. TrustCo Bank Corp NY had a net margin of 22.76% and a return on equity of 9.62%.
TrustCo Bank Corp NY Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. This is an increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 4th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 42.22%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of TrustCo Bank Corp NY in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy".
Get Our Latest Stock Report on TrustCo Bank Corp NY
TrustCo Bank Corp NY Company Profile
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Free Report)
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.
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