Royce & Associates LP Has $6.54 Million Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Key Points

• Royce & Associates LP reduced its holdings in TrustCo Bank Corp NY by 7.9%, selling 18,311 shares, and now owns approximately 1.13% of the company valued at $6,535,000.
• TrustCo Bank recently reported $0.79 EPS, exceeding consensus estimates of $0.69, along with revenue of $46.60 million for the quarter.
• The bank declared a quarterly dividend of $0.36 per share, yielding 4.15%, and has a dividend payout ratio of 51.25%.

Royce & Associates LP lowered its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,419 shares of the bank's stock after selling 18,311 shares during the quarter. Royce & Associates LP owned approximately 1.13% of TrustCo Bank Corp NY worth $6,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of TrustCo Bank Corp NY by 51.4% during the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock valued at $53,000 after purchasing an additional 592 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at about $93,000. KLP Kapitalforvaltning AS bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at about $120,000. Point72 Asset Management L.P. bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at about $203,000. Finally, EntryPoint Capital LLC bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at about $223,000. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST traded up $0.01 during midday trading on Monday, reaching $34.71. 59,519 shares of the company traded hands, compared to its average volume of 90,619. The stock has a 50-day moving average price of $32.91 and a 200 day moving average price of $31.77. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $38.89. The company has a market cap of $660.18 million, a price-to-earnings ratio of 12.35 and a beta of 0.66.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $0.79 EPS for the quarter, topping the consensus estimate of $0.69 by $0.10. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%. The firm had revenue of $46.60 million for the quarter, compared to analysts' expectations of $46.16 million.

TrustCo Bank Corp NY Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.15%. TrustCo Bank Corp NY's dividend payout ratio is 51.25%.

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.