Cetera Investment Advisers Makes New Investment in TrustCo Bank Corp NY $TRST

Key Points

• Cetera Investment Advisers purchased 7,623 shares of TrustCo Bank Corp NY, valuing approximately $232,000, as disclosed in their recent Form 13F filing.
• TrustCo Bank Corp NY announced an increase in its quarterly dividend to $0.38 per share, effective from October 1st, resulting in an annualized dividend yield of 4.2%.
• The bank reported a quarterly earnings per share (EPS) of $0.79, exceeding expectations and reflecting a net margin of 19.84% and a return on equity of 7.85%.

Cetera Investment Advisers bought a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,623 shares of the bank's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TrustCo Bank Corp NY by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,568 shares of the bank's stock valued at $352,000 after purchasing an additional 362 shares in the last quarter. New York State Teachers Retirement System raised its holdings in TrustCo Bank Corp NY by 1.4% during the first quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank's stock worth $932,000 after acquiring an additional 436 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in TrustCo Bank Corp NY by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 26,878 shares of the bank's stock valued at $819,000 after buying an additional 447 shares during the period. GAMMA Investing LLC raised its stake in TrustCo Bank Corp NY by 51.4% in the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock valued at $53,000 after buying an additional 592 shares during the period. Finally, MetLife Investment Management LLC raised its stake in TrustCo Bank Corp NY by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 11,207 shares of the bank's stock valued at $373,000 after buying an additional 846 shares during the period. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Trading Up 0.7%

NASDAQ:TRST traded up $0.28 on Wednesday, hitting $39.32. The company's stock had a trading volume of 130,770 shares, compared to its average volume of 115,003. The firm has a market capitalization of $741.18 million, a P/E ratio of 13.99 and a beta of 0.70. TrustCo Bank Corp NY has a one year low of $27.18 and a one year high of $39.37. The stock has a fifty day moving average of $34.65 and a two-hundred day moving average of $32.25.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.10. The company had revenue of $46.60 million for the quarter, compared to analyst estimates of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Increases Dividend

The business also recently disclosed 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. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date is Friday, September 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. TrustCo Bank Corp NY's dividend payout ratio is 51.25%.

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.