First Trust Advisors LP Buys 8,370 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

First Trust Advisors LP increased its stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 72.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,871 shares of the bank's stock after purchasing an additional 8,370 shares during the quarter. First Trust Advisors LP owned 0.10% of TrustCo Bank Corp NY worth $662,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TRST. Wilmington Savings Fund Society FSB purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth $29,000. R Squared Ltd bought a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at approximately $91,000. KLP Kapitalforvaltning AS bought a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at approximately $120,000. Graney & King LLC purchased a new stake in TrustCo Bank Corp NY during the 4th quarter valued at $142,000. Finally, AlphaQuest LLC purchased a new position in TrustCo Bank Corp NY during the fourth quarter worth $218,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Price Performance

Shares of TRST traded down $0.15 during midday trading on Wednesday, hitting $32.43. The stock had a trading volume of 13,305 shares, compared to its average volume of 88,506. The firm has a market cap of $616.72 million, a PE ratio of 12.62 and a beta of 0.64. TrustCo Bank Corp NY has a 1 year low of $26.14 and a 1 year high of $38.89. The stock's 50 day moving average is $30.03 and its 200 day moving average is $32.64.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. The firm had revenue of $45.35 million for the quarter, compared to analysts' expectations 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 announced that its board has authorized a stock repurchase 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. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.36 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.44 annualized dividend and a yield of 4.44%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is currently 53.73%.

About TrustCo Bank Corp NY

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.