Two Sigma Advisers LP Lowers Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Two Sigma Advisers LP trimmed its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,906 shares of the bank's stock after selling 8,100 shares during the quarter. Two Sigma Advisers LP owned 0.18% of TrustCo Bank Corp NY worth $1,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of TrustCo Bank Corp NY by 277.3% in the fourth quarter. Invesco Ltd. now owns 248,507 shares of the bank's stock valued at $8,278,000 after purchasing an additional 182,634 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of TrustCo Bank Corp NY by 4.3% in the fourth quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank's stock valued at $38,539,000 after acquiring an additional 47,422 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY by 69.5% in the fourth quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank's stock valued at $3,564,000 after acquiring an additional 43,880 shares in the last quarter. American Century Companies Inc. boosted its holdings in TrustCo Bank Corp NY by 9.5% in the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank's stock valued at $13,581,000 after purchasing an additional 35,343 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in TrustCo Bank Corp NY during the 4th quarter worth $746,000. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Price Performance

Shares of TRST stock traded down $0.32 during trading hours on Wednesday, reaching $31.08. 109,722 shares of the stock were exchanged, compared to its average volume of 87,635. TrustCo Bank Corp NY has a 12-month low of $26.14 and a 12-month high of $38.89. The business's fifty day moving average is $30.32 and its two-hundred day moving average is $32.26. The firm has a market capitalization of $591.14 million, a P/E ratio of 12.09 and a beta of 0.64.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. The firm had revenue of $45.35 million for the quarter, compared to analyst estimates of $44.99 million. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, June 6th. TrustCo Bank Corp NY's payout ratio is 53.73%.

TrustCo Bank Corp NY announced that its board has authorized a stock buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.