Public Sector Pension Investment Board Acquires 32,166 Shares of 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 holdings in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 67.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of TrustCo Bank Corp NY by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank's stock worth $38,555,000 after buying an additional 37,096 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TrustCo Bank Corp NY by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank's stock worth $41,022,000 after acquiring an additional 15,482 shares during the period. Systematic Financial Management LP raised its position in shares of TrustCo Bank Corp NY by 4.3% during the fourth quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank's stock valued at $38,539,000 after buying an additional 47,422 shares during the last quarter. Invesco Ltd. increased its holdings in shares of 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 last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in TrustCo Bank Corp NY by 3.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 121,913 shares of the bank's stock valued at $4,061,000 after acquiring an additional 3,617 shares during the period. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Up 5.1%

Shares of TRST traded up $1.84 during midday trading on Friday, hitting $37.90. 160,177 shares of the company's stock traded hands, compared to its average volume of 97,826. The stock has a market capitalization of $714.42 million, a price-to-earnings ratio of 13.49 and a beta of 0.70. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $38.89. The firm's fifty day moving average is $34.17 and its 200-day moving average is $32.12.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.10. The firm had revenue of $46.60 million for 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 company 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. The ex-dividend date is Friday, September 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. TrustCo Bank Corp NY's payout ratio is currently 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.