Cetera Investment Advisers Invests $232,000 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 acquired a new stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,623 shares of the bank's stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in shares of TrustCo Bank Corp NY by 18.0% during the fourth quarter. LPL Financial LLC now owns 10,851 shares of the bank's stock worth $361,000 after buying an additional 1,655 shares during the period. Wells Fargo & Company MN boosted its stake in TrustCo Bank Corp NY by 28.5% during the fourth quarter. Wells Fargo & Company MN now owns 11,464 shares of the bank's stock valued at $382,000 after buying an additional 2,541 shares in the last quarter. Invesco Ltd. lifted its stake in TrustCo Bank Corp NY by 277.3% in the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank's stock worth $8,278,000 after acquiring an additional 182,634 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at approximately $247,000. Finally, Barclays PLC grew its holdings in shares of TrustCo Bank Corp NY by 2.3% during the 4th quarter. Barclays PLC now owns 38,579 shares of the bank's stock worth $1,285,000 after purchasing an additional 850 shares in the last quarter. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Up 2.5%

Shares of NASDAQ:TRST traded up $0.95 during trading on Tuesday, hitting $38.98. 53,012 shares of the company's stock traded hands, compared to its average volume of 92,704. The company has a 50-day moving average price of $34.31 and a 200-day moving average price of $32.15. The company has a market cap of $734.77 million, a price-to-earnings ratio of 13.87 and a beta of 0.70. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.10. The company had revenue of $46.60 million during the quarter, compared to analysts' expectations 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. TrustCo Bank Corp NY's payout ratio is 51.25%.

TrustCo Bank Corp NY Company 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.