Vanguard Group Inc. Acquires 37,096 Shares of TrustCo Bank Corp NY $TRST

Key Points

• Vanguard Group Inc. increased its stake in TrustCo Bank Corp NY by 3.0%, now owning 6.65% of the company with a value of approximately $38.55 million.
• TrustCo Bank Corp NY has announced a quarterly dividend of $0.38, an increase from its previous dividend of $0.36, resulting in an annualized dividend yield of 3.9%.
• The bank reported a Q2 earnings per share (EPS) of $0.79, exceeding the consensus estimate of $0.69, with a revenue of $46.60 million compared to the estimated $46.16 million.

Vanguard Group Inc. increased its stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,264,934 shares of the bank's stock after purchasing an additional 37,096 shares during the period. Vanguard Group Inc. owned approximately 6.65% of TrustCo Bank Corp NY worth $38,555,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TRST. Wells Fargo & Company MN increased its position in shares of TrustCo Bank Corp NY by 28.5% in the fourth quarter. Wells Fargo & Company MN now owns 11,464 shares of the bank's stock worth $382,000 after purchasing an additional 2,541 shares during the period. Raymond James Financial Inc. bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth $247,000. Barclays PLC increased its position in shares of TrustCo Bank Corp NY by 2.3% in the fourth quarter. Barclays PLC now owns 38,579 shares of the bank's stock worth $1,285,000 after purchasing an additional 850 shares during the period. First Trust Advisors LP increased its position in shares of TrustCo Bank Corp NY by 72.8% in the fourth quarter. First Trust Advisors LP now owns 19,871 shares of the bank's stock worth $662,000 after purchasing an additional 8,370 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of TrustCo Bank Corp NY by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank's stock worth $41,022,000 after purchasing an additional 15,482 shares during the period. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST remained flat at $39.79 during mid-day trading on Monday. The company had a trading volume of 154,550 shares, compared to its average volume of 121,456. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $40.02. The firm has a market cap of $750.04 million, a price-to-earnings ratio of 14.16 and a beta of 0.71. The company has a 50 day moving average price of $35.17 and a 200-day moving average price of $32.36.

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 analysts' consensus estimates of $0.69 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.The company had revenue of $46.60 million for the quarter, compared to analysts' expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a $0.38 dividend. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 5th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 51.25%.

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.