GAMMA Investing LLC grew its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4,514.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,157 shares of the bank's stock after purchasing an additional 52,005 shares during the quarter. GAMMA Investing LLC owned about 0.28% of TrustCo Bank Corp NY worth $1,744,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $29,000. Cubist Systematic Strategies LLC acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $93,000. KLP Kapitalforvaltning AS acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $120,000. Graney & King LLC acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $142,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 68.57% of the company's stock.
TrustCo Bank Corp NY Trading Down 1.5%
TrustCo Bank Corp NY stock opened at $31.59 on Friday. TrustCo Bank Corp NY has a 12 month low of $26.30 and a 12 month high of $38.89. The stock's 50 day moving average is $30.66 and its 200-day moving average is $31.96. The company has a market capitalization of $600.84 million, a price-to-earnings ratio of 12.29 and a beta of 0.64.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. The business had revenue of $45.35 million for the quarter, compared to the consensus estimate 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 Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, June 6th. TrustCo Bank Corp NY's payout ratio is 53.73%.
TrustCo Bank Corp NY declared that its Board of Directors has approved a share buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.
TrustCo Bank Corp NY Profile
(
Free Report)
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.
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