JPMorgan Chase & Co. Has $3.56 Million Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 69.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,008 shares of the bank's stock after buying an additional 43,880 shares during the quarter. JPMorgan Chase & Co. owned about 0.56% of TrustCo Bank Corp NY worth $3,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TRST. Wilmington Savings Fund Society FSB bought a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth about $29,000. Versant Capital Management Inc raised its holdings in TrustCo Bank Corp NY by 263.7% during the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank's stock worth $31,000 after buying an additional 683 shares during the period. R Squared Ltd bought a new position in TrustCo Bank Corp NY in the fourth quarter valued at approximately $91,000. KLP Kapitalforvaltning AS acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $120,000. Finally, Graney & King LLC bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth $142,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Trading Down 1.0 %

Shares of TrustCo Bank Corp NY stock traded down $0.32 during trading on Friday, reaching $30.40. The stock had a trading volume of 20,228 shares, compared to its average volume of 86,024. The company has a market capitalization of $578.21 million, a price-to-earnings ratio of 11.83 and a beta of 0.71. TrustCo Bank Corp NY has a 52 week low of $26.14 and a 52 week high of $38.89. The stock has a fifty day moving average price of $30.39 and a two-hundred day moving average price of $32.81.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The business had revenue of $45.35 million for the quarter, compared to analyst estimates 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 announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 18th that allows the company to repurchase 0 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was 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.