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. boosted its stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264,934 shares of the bank's stock after acquiring an additional 37,096 shares during the quarter. Vanguard Group Inc. owned 6.65% of TrustCo Bank Corp NY worth $38,555,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in TrustCo Bank Corp NY by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank's stock valued at $932,000 after acquiring an additional 436 shares in the last quarter. GAMMA Investing LLC increased its stake in TrustCo Bank Corp NY by 51.4% in the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock valued at $53,000 after buying an additional 592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in TrustCo Bank Corp NY by 69.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,499 shares of the bank's stock valued at $1,316,000 after buying an additional 16,194 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in TrustCo Bank Corp NY by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,144 shares of the bank's stock valued at $538,000 after buying an additional 2,857 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in TrustCo Bank Corp NY in the 4th quarter valued at $93,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Price Performance

TRST stock remained flat at $39.79 during midday trading on Friday. 154,550 shares of the company's stock traded hands, compared to its average volume of 119,491. The firm has a market cap of $750.04 million, a PE ratio of 14.16 and a beta of 0.70. The business has a fifty day moving average price of $35.01 and a two-hundred day moving average price of $32.33. TrustCo Bank Corp NY has a 12-month low of $27.18 and a 12-month high of $40.02.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The bank reported $0.79 earnings per share for the quarter, topping 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. 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.