GAMMA Investing LLC Purchases 52,005 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

GAMMA Investing LLC lifted its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4,514.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,157 shares of the bank's stock after acquiring an additional 52,005 shares during the quarter. GAMMA Investing LLC owned approximately 0.28% of TrustCo Bank Corp NY worth $1,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of TrustCo Bank Corp NY by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank's stock valued at $41,022,000 after acquiring an additional 15,482 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of TrustCo Bank Corp NY by 4.3% in the fourth quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank's stock valued at $38,539,000 after acquiring an additional 47,422 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of TrustCo Bank Corp NY by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 450,602 shares of the bank's stock valued at $15,010,000 after acquiring an additional 7,712 shares in 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 valued at $13,581,000 after acquiring an additional 35,343 shares in the last quarter. Finally, 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 valued at $8,278,000 after acquiring an additional 182,634 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Trading Up 0.4%

TrustCo Bank Corp NY stock traded up $0.13 during trading hours on Wednesday, reaching $30.73. 47,907 shares of the stock were exchanged, compared to its average volume of 88,692. The company has a market cap of $584.48 million, a P/E ratio of 11.47 and a beta of 0.64. TrustCo Bank Corp NY has a twelve month low of $26.53 and a twelve month high of $38.89. The stock has a 50 day moving average of $30.78 and a two-hundred day moving average of $31.86.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $44.99 million. TrustCo Bank Corp NY had a net margin of 19.14% and a return on equity of 7.59%.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.69%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 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 repurchase 0 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.