Gabelli Funds LLC boosted its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 34.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,443 shares of the bank's stock after purchasing an additional 38,450 shares during the period. Gabelli Funds LLC owned 0.87% of TrustCo Bank Corp NY worth $6,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG increased its position in TrustCo Bank Corp NY by 88.4% in the 4th quarter. UBS Group AG now owns 157,142 shares of the bank's stock worth $6,495,000 after purchasing an additional 73,718 shares during the last quarter. First Trust Advisors LP grew its stake in shares of TrustCo Bank Corp NY by 295.2% in the 3rd quarter. First Trust Advisors LP now owns 71,557 shares of the bank's stock valued at $2,598,000 after buying an additional 53,452 shares in the last quarter. Invesco Ltd. grew its stake in shares of TrustCo Bank Corp NY by 25.0% in the 3rd quarter. Invesco Ltd. now owns 230,528 shares of the bank's stock valued at $8,368,000 after buying an additional 46,103 shares in the last quarter. Intech Investment Management LLC increased its holdings in TrustCo Bank Corp NY by 374.2% in the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank's stock worth $1,604,000 after buying an additional 41,540 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in TrustCo Bank Corp NY by 55.4% in the third quarter. Two Sigma Investments LP now owns 115,107 shares of the bank's stock worth $4,178,000 after buying an additional 41,051 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company's stock.
TrustCo Bank Corp NY Stock Performance
TRST opened at $57.41 on Tuesday. The company has a market cap of $1.00 billion, a PE ratio of 15.95 and a beta of 0.62. The stock has a 50-day moving average of $53.54 and a 200-day moving average of $47.97. TrustCo Bank Corp NY has a 52-week low of $32.62 and a 52-week high of $57.93.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $0.98 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.The business had revenue of $51.50 million for the quarter.
TrustCo Bank Corp NY Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, June 5th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 42.22%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of TrustCo Bank Corp NY in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".
Read Our Latest Analysis on TRST
TrustCo Bank Corp NY Profile
(
Free Report)
TrustCo Bank Corp. NY NASDAQ: TRST is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.
Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.
Further Reading
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