Connor Clark & Lunn Investment Management Ltd. Acquires 18,954 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 105.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,987 shares of the bank's stock after purchasing an additional 18,954 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of TrustCo Bank Corp NY worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TRST. JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY by 74.2% in the third quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank's stock valued at $2,088,000 after acquiring an additional 26,881 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of TrustCo Bank Corp NY by 29.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,305 shares of the bank's stock valued at $771,000 after acquiring an additional 5,248 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of TrustCo Bank Corp NY by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank's stock valued at $3,070,000 after acquiring an additional 2,569 shares during the last quarter. Barclays PLC raised its stake in shares of TrustCo Bank Corp NY by 134.4% in the third quarter. Barclays PLC now owns 37,729 shares of the bank's stock valued at $1,247,000 after acquiring an additional 21,633 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in TrustCo Bank Corp NY in the 4th quarter worth approximately $746,000. 68.57% of the stock is owned by institutional investors and hedge funds.

Remove Ads

TrustCo Bank Corp NY Stock Down 1.2 %

TRST stock traded down $0.36 during trading on Friday, hitting $30.31. The company had a trading volume of 230,425 shares, compared to its average volume of 77,522. The firm has a 50-day moving average price of $32.06 and a 200-day moving average price of $33.48. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The stock has a market cap of $576.50 million, a price-to-earnings ratio of 11.79 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 56.03%.

TrustCo Bank Corp NY announced that its Board of Directors has approved a stock repurchase plan 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. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

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.