Arrowstreet Capital Limited Partnership lowered its stake in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,422 shares of the bank's stock after selling 20,971 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.79% of TrustCo Bank Corp NY worth $4,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of TrustCo Bank Corp NY by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank's stock valued at $3,564,000 after acquiring an additional 43,880 shares during the last quarter. American Century Companies Inc. increased its stake in TrustCo Bank Corp NY by 9.5% in the fourth 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 last quarter. Proficio Capital Partners LLC purchased a new position in TrustCo Bank Corp NY in the fourth quarter valued at approximately $746,000. Barclays PLC raised its holdings in TrustCo Bank Corp NY by 134.4% during the third quarter. Barclays PLC now owns 37,729 shares of the bank's stock worth $1,247,000 after purchasing an additional 21,633 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TrustCo Bank Corp NY by 105.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank's stock worth $1,232,000 after buying an additional 18,954 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company's stock.
TrustCo Bank Corp NY Price Performance
Shares of TRST traded down $0.38 during midday trading on Friday, reaching $27.56. 117,524 shares of the stock were exchanged, compared to its average volume of 85,096. TrustCo Bank Corp NY has a twelve month low of $25.85 and a twelve month high of $38.89. The company has a market capitalization of $524.19 million, a price-to-earnings ratio of 10.72 and a beta of 0.71. The business's 50-day moving average price is $31.17 and its 200 day moving average price is $33.02.
TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share (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 buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
TrustCo Bank Corp NY Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.22%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is 56.03%.
TrustCo Bank Corp NY Company Profile
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Free Report)
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.
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