Systematic Financial Management LP Acquires 47,422 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Systematic Financial Management LP boosted its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,156,983 shares of the bank's stock after acquiring an additional 47,422 shares during the period. TrustCo Bank Corp NY accounts for about 1.0% of Systematic Financial Management LP's portfolio, making the stock its 26th biggest position. Systematic Financial Management LP owned about 6.09% of TrustCo Bank Corp NY worth $38,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRST. Wilmington Savings Fund Society FSB acquired a new stake in shares of TrustCo Bank Corp NY during the 4th quarter worth approximately $29,000. R Squared Ltd bought a new stake in TrustCo Bank Corp NY during the fourth quarter worth $91,000. Cubist Systematic Strategies LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $93,000. KLP Kapitalforvaltning AS acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter valued at $120,000. Finally, Graney & King LLC bought a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at $142,000. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

Shares of TrustCo Bank Corp NY stock traded down $0.12 during trading on Tuesday, reaching $32.05. 43,770 shares of the company's stock were exchanged, compared to its average volume of 86,347. TrustCo Bank Corp NY has a 1-year low of $26.14 and a 1-year high of $38.89. The company has a market cap of $609.59 million, a P/E ratio of 12.47 and a beta of 0.64. The firm's 50-day moving average price is $30.19 and its 200 day moving average price is $32.61.

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, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $45.35 million during the quarter, compared to the consensus estimate 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 declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.