State of New Jersey Common Pension Fund D lifted its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,815 shares of the bank's stock after acquiring an additional 11,923 shares during the period. State of New Jersey Common Pension Fund D owned 0.46% of TrustCo Bank Corp NY worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of TrustCo Bank Corp NY by 18.0% in the fourth quarter. LPL Financial LLC now owns 10,851 shares of the bank's stock valued at $361,000 after purchasing an additional 1,655 shares during the period. Wells Fargo & Company MN raised its position in TrustCo Bank Corp NY by 28.5% during 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 last quarter. Invesco Ltd. lifted its stake in TrustCo Bank Corp NY by 277.3% during the 4th 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 during the period. Raymond James Financial Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $247,000. Finally, Barclays PLC boosted its holdings in shares of TrustCo Bank Corp NY by 2.3% in the 4th quarter. Barclays PLC now owns 38,579 shares of the bank's stock valued at $1,285,000 after acquiring an additional 850 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company's stock.
TrustCo Bank Corp NY Stock Performance
Shares of TrustCo Bank Corp NY stock traded up $1.84 during trading on Friday, hitting $37.90. 160,177 shares of the company's stock were exchanged, compared to its average volume of 102,119. The stock has a market capitalization of $714.42 million, a price-to-earnings ratio of 13.49 and a beta of 0.70. The business has a 50-day simple moving average of $34.17 and a 200-day simple moving average of $32.12. TrustCo Bank Corp NY has a 52-week low of $27.18 and a 52-week high of $38.89.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. The company had revenue of $46.60 million for the quarter, compared to analyst estimates of $46.16 million. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%.
TrustCo Bank Corp NY Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.0%. This is a positive change from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, September 5th. TrustCo Bank Corp NY's dividend payout ratio is 51.25%.
About TrustCo Bank Corp NY
(
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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