Bridgeway Capital Management LLC Has $3.39 Million Stock Holdings in TrustCo Bank Corp NY $TRST

Key Points

• Bridgeway Capital Management LLC reduced its stake in TrustCo Bank Corp NY by 8.7%, holding approximately 0.59% of the company worth $3.39 million after selling 10,611 shares.
• TrustCo Bank Corp NY announced a quarterly dividend increase to $0.38 per share, representing an annualized dividend of $1.52 and a yield of 3.8%.
• The bank reported a quarterly EPS of $0.79, surpassing analyst estimates by $0.10, with revenues of $46.6 million.

Bridgeway Capital Management LLC reduced its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,302 shares of the bank's stock after selling 10,611 shares during the period. Bridgeway Capital Management LLC owned approximately 0.59% of TrustCo Bank Corp NY worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of TrustCo Bank Corp NY by 51.4% during the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock worth $53,000 after buying an additional 592 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in TrustCo Bank Corp NY during the fourth quarter worth about $93,000. Point72 Asset Management L.P. bought a new position in TrustCo Bank Corp NY during the fourth quarter worth about $203,000. CWM LLC raised its stake in TrustCo Bank Corp NY by 23.3% in the 1st quarter. CWM LLC now owns 7,626 shares of the bank's stock worth $232,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in TrustCo Bank Corp NY in the 1st quarter valued at about $232,000. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Up 1.4%

Shares of TRST traded up $0.57 during mid-day trading on Thursday, hitting $40.05. 124,582 shares of the company's stock were exchanged, compared to its average volume of 139,965. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $40.96. The stock's 50-day simple moving average is $36.16 and its 200-day simple moving average is $32.74. The firm has a market cap of $754.98 million, a price-to-earnings ratio of 14.25 and a beta of 0.72.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $46.60 million during the quarter, compared to analysts' expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a dividend of $0.38 per share. This is an increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. TrustCo Bank Corp NY's payout ratio is currently 54.09%.

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.