Proficio Capital Partners LLC Invests $746,000 in TrustCo Bank Corp NY (NASDAQ:TRST)

Proficio Capital Partners LLC bought a new stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,384 shares of the bank's stock, valued at approximately $746,000. Proficio Capital Partners LLC owned about 0.12% of TrustCo Bank Corp NY as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TrustCo Bank Corp NY during the third quarter valued at $596,000. Charles Schwab Investment Management Inc. increased its holdings in shares of TrustCo Bank Corp NY by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 170,371 shares of the bank's stock valued at $5,634,000 after acquiring an additional 5,454 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of TrustCo Bank Corp NY by 50.0% during the third quarter. Cerity Partners LLC now owns 14,384 shares of the bank's stock valued at $476,000 after acquiring an additional 4,794 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of TrustCo Bank Corp NY in the 3rd quarter worth about $271,000. Finally, FMR LLC boosted its stake in TrustCo Bank Corp NY by 225.6% in the 3rd quarter. FMR LLC now owns 7,189 shares of the bank's stock worth $238,000 after purchasing an additional 4,981 shares in the last quarter. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Trading Up 0.3 %

NASDAQ:TRST traded up $0.10 on Wednesday, reaching $30.86. 48,392 shares of the stock traded hands, compared to its average volume of 77,452. The company has a market capitalization of $586.96 million, a price-to-earnings ratio of 12.01 and a beta of 0.80. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The company's fifty day simple moving average is $32.04 and its 200 day simple moving average is $33.44.

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TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY announced that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

TrustCo Bank Corp NY Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY's payout ratio is 56.03%.

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.