BNP Paribas Financial Markets Invests $479,000 in TrustCo Bank Corp NY (NASDAQ:TRST)

BNP Paribas Financial Markets bought a new stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,367 shares of the bank's stock, valued at approximately $479,000. BNP Paribas Financial Markets owned approximately 0.08% of TrustCo Bank Corp NY as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in TrustCo Bank Corp NY by 8.2% during the 4th quarter. MetLife Investment Management LLC now owns 11,207 shares of the bank's stock valued at $373,000 after purchasing an additional 846 shares during the last quarter. Barclays PLC increased its holdings in shares of TrustCo Bank Corp NY by 2.3% during the fourth quarter. Barclays PLC now owns 38,579 shares of the bank's stock worth $1,285,000 after buying an additional 850 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $29,000. Gabelli Funds LLC boosted its holdings in shares of TrustCo Bank Corp NY by 2.2% in the 4th quarter. Gabelli Funds LLC now owns 60,505 shares of the bank's stock worth $2,015,000 after acquiring an additional 1,300 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of TrustCo Bank Corp NY by 18.0% in the 4th quarter. LPL Financial LLC now owns 10,851 shares of the bank's stock worth $361,000 after acquiring an additional 1,655 shares in the last quarter. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Up 0.8%

TRST stock traded up $0.24 during midday trading on Thursday, reaching $31.16. 61,305 shares of the company's stock traded hands, compared to its average volume of 87,198. The company has a 50-day simple moving average of $30.30 and a two-hundred day simple moving average of $32.41. TrustCo Bank Corp NY has a 1-year low of $26.14 and a 1-year high of $38.89. The company has a market cap of $592.66 million, a price-to-earnings ratio of 12.12 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 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%. The company had revenue of $45.35 million for the quarter, compared to analyst estimates of $44.99 million.

TrustCo Bank Corp NY announced that its board has authorized a stock repurchase plan on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, June 6th. This represents a $1.44 annualized dividend and a yield of 4.62%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 53.73%.

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.