Public Sector Pension Investment Board Grows Position in TrustCo Bank Corp NY $TRST

Key Points

• The Public Sector Pension Investment Board increased its holdings in TrustCo Bank Corp NY by 67.6%, bringing its total to 79,772 shares worth approximately $2.43 million.
• TrustCo Bank Corp NY reported earnings of $0.79 EPS for the last quarter, exceeding analysts' expectations, and had a revenue of $46.60 million.
• The bank has announced a quarterly dividend increase to $0.38 per share, representing an annual yield of 4.3%, indicating strong shareholder returns.

Public Sector Pension Investment Board boosted its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 67.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,772 shares of the bank's stock after acquiring an additional 32,166 shares during the quarter. Public Sector Pension Investment Board owned 0.42% of TrustCo Bank Corp NY worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TRST. LPL Financial LLC boosted its holdings in TrustCo Bank Corp NY by 18.0% during the 4th quarter. LPL Financial LLC now owns 10,851 shares of the bank's stock valued at $361,000 after acquiring an additional 1,655 shares during the period. Wells Fargo & Company MN lifted its holdings in TrustCo Bank Corp NY by 28.5% in the 4th quarter. Wells Fargo & Company MN now owns 11,464 shares of the bank's stock worth $382,000 after buying an additional 2,541 shares during the period. Invesco Ltd. lifted its holdings 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 buying an additional 182,634 shares during the period. Raymond James Financial Inc. purchased a new stake in TrustCo Bank Corp NY in the 4th quarter worth approximately $247,000. Finally, Barclays PLC lifted its holdings in TrustCo Bank Corp NY by 2.3% in the 4th quarter. Barclays PLC now owns 38,579 shares of the bank's stock worth $1,285,000 after buying an additional 850 shares during the period. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Trading Up 0.3%

NASDAQ TRST traded up $0.13 on Monday, hitting $38.03. The company's stock had a trading volume of 209,558 shares, compared to its average volume of 102,119. TrustCo Bank Corp NY has a 52-week low of $27.18 and a 52-week high of $38.89. The company's 50-day simple moving average is $34.31 and its 200 day simple moving average is $32.15. The firm has a market cap of $716.87 million, a P/E ratio of 13.53 and a beta of 0.70.

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 for the quarter, topping 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.38 dividend. This is an increase 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 annualized dividend and a yield of 4.0%. TrustCo Bank Corp NY's dividend payout ratio (DPR) 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.