American Century Companies Inc. Purchases 35,343 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

American Century Companies Inc. boosted its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 407,703 shares of the bank's stock after buying an additional 35,343 shares during the quarter. American Century Companies Inc. owned about 2.14% of TrustCo Bank Corp NY worth $13,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TrustCo Bank Corp NY by 105.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank's stock valued at $1,232,000 after acquiring an additional 18,954 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of TrustCo Bank Corp NY during the fourth quarter worth approximately $218,000. Amundi grew its stake in shares of TrustCo Bank Corp NY by 174.5% in the fourth quarter. Amundi now owns 9,568 shares of the bank's stock worth $303,000 after acquiring an additional 6,082 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth $247,000. Finally, Proficio Capital Partners LLC bought a new position in TrustCo Bank Corp NY during the fourth quarter worth $746,000. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Stock Down 6.6 %

TrustCo Bank Corp NY stock traded down $2.02 during mid-day trading on Thursday, reaching $28.68. The company had a trading volume of 154,707 shares, compared to its average volume of 83,356. The company has a 50 day moving average of $31.80 and a 200-day moving average of $33.32. TrustCo Bank Corp NY has a 52 week low of $25.83 and a 52 week high of $38.89. The firm has a market cap of $545.49 million, a price-to-earnings ratio of 11.16 and a beta of 0.80.

Remove Ads

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings data 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 has approved a share repurchase program on Tuesday, March 18th that allows the company to buyback 0 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY's dividend payout ratio is presently 56.03%.

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.