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

First Trust Advisors LP boosted its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 72.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,871 shares of the bank's stock after purchasing an additional 8,370 shares during the period. First Trust Advisors LP owned about 0.10% of TrustCo Bank Corp NY worth $662,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. increased its holdings in TrustCo Bank Corp NY by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 450,602 shares of the bank's stock worth $15,010,000 after acquiring an additional 7,712 shares in the last quarter. American Century Companies Inc. raised its position in shares of TrustCo Bank Corp NY by 9.5% during the 4th 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. Invesco Ltd. lifted its stake in shares of TrustCo Bank Corp NY by 277.3% during the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank's stock valued at $8,278,000 after buying an additional 182,634 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank's stock worth $5,904,000 after buying an additional 6,867 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in TrustCo Bank Corp NY by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank's stock worth $3,564,000 after buying an additional 43,880 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST traded down $0.18 during mid-day trading on Friday, reaching $31.40. The company's stock had a trading volume of 33,172 shares, compared to its average volume of 86,468. TrustCo Bank Corp NY has a 52 week low of $26.14 and a 52 week high of $38.89. The stock has a fifty day moving average of $29.99 and a two-hundred day moving average of $32.64. The firm has a market capitalization of $597.23 million, a PE ratio of 12.22 and a beta of 0.64.

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

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.59%. The ex-dividend date was Friday, March 7th. TrustCo Bank Corp NY's payout ratio is currently 53.73%.

TrustCo Bank Corp NY announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 18th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

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.