BNP Paribas Financial Markets Buys Shares of 14,367 TrustCo Bank Corp NY (NASDAQ:TRST)

BNP Paribas Financial Markets purchased a new stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of TrustCo Bank Corp NY by 277.3% in the fourth quarter. Invesco Ltd. now owns 248,507 shares of the bank's stock worth $8,278,000 after acquiring an additional 182,634 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of TrustCo Bank Corp NY by 69.5% in the fourth quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank's stock worth $3,564,000 after acquiring an additional 43,880 shares during the last quarter. American Century Companies Inc. grew its stake in shares of TrustCo Bank Corp NY by 9.5% in the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank's stock worth $13,581,000 after acquiring an additional 35,343 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth $746,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TrustCo Bank Corp NY by 105.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank's stock worth $1,232,000 after acquiring an additional 18,954 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Stock Down 1.1%

Shares of NASDAQ TRST traded down $0.35 during trading on Wednesday, reaching $31.12. The company had a trading volume of 23,587 shares, compared to its average volume of 86,817. TrustCo Bank Corp NY has a 12-month low of $26.14 and a 12-month high of $38.89. The stock has a market cap of $591.90 million, a PE ratio of 12.12 and a beta of 0.64. The business's 50-day moving average is $30.28 and its 200 day moving average is $32.46.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. The firm had revenue of $45.35 million for the quarter, compared to analysts' expectations of $44.99 million. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Friday, June 6th. TrustCo Bank Corp NY's payout ratio is currently 53.73%.

TrustCo Bank Corp NY declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.