Invesco Ltd. Increases Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Invesco Ltd. grew its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 277.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,507 shares of the bank's stock after buying an additional 182,634 shares during the quarter. Invesco Ltd. owned 1.31% of TrustCo Bank Corp NY worth $8,278,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TRST. Jane Street Group LLC lifted its holdings in shares of TrustCo Bank Corp NY by 69.6% in the 3rd quarter. Jane Street Group LLC now owns 33,830 shares of the bank's stock worth $1,119,000 after buying an additional 13,878 shares during the period. Barclays PLC lifted its holdings in shares of TrustCo Bank Corp NY by 134.4% in the 3rd quarter. Barclays PLC now owns 37,729 shares of the bank's stock worth $1,247,000 after buying an additional 21,633 shares during the period. Geode Capital Management LLC lifted its holdings in shares of TrustCo Bank Corp NY by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 442,783 shares of the bank's stock worth $14,646,000 after buying an additional 6,249 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of TrustCo Bank Corp NY by 74.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank's stock worth $2,088,000 after purchasing an additional 26,881 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of TrustCo Bank Corp NY by 263.7% during the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank's stock worth $31,000 after purchasing an additional 683 shares during the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Down 0.6 %

Shares of NASDAQ TRST traded down $0.18 during mid-day trading on Tuesday, reaching $30.36. 6,447 shares of the company were exchanged, compared to its average volume of 91,718. The firm has a 50-day moving average of $30.27 and a 200 day moving average of $32.80. TrustCo Bank Corp NY has a 1 year low of $26.14 and a 1 year high of $38.89. The stock has a market cap of $577.45 million, a price-to-earnings ratio of 11.81 and a beta of 0.71.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued 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. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%. The firm had revenue of $45.35 million for the quarter, compared to analyst estimates of $44.99 million.

TrustCo Bank Corp NY declared that its board has authorized a share buyback program on Tuesday, March 18th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY's dividend payout ratio is currently 53.73%.

TrustCo Bank Corp NY 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.