Prudential Financial Inc. Raises Stock Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Prudential Financial Inc. grew its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,960 shares of the bank's stock after acquiring an additional 10,200 shares during the quarter. Prudential Financial Inc. owned 0.20% of TrustCo Bank Corp NY worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in TrustCo Bank Corp NY by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 442,783 shares of the bank's stock valued at $14,646,000 after acquiring an additional 6,249 shares during the period. American Century Companies Inc. raised its stake in TrustCo Bank Corp NY by 9.5% in the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank's stock valued at $13,581,000 after acquiring an additional 35,343 shares during the period. Charles Schwab Investment Management Inc. raised its stake in TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank's stock valued at $5,904,000 after acquiring an additional 6,867 shares during the period. Principal Financial Group Inc. raised its stake in TrustCo Bank Corp NY by 2.9% in the 4th 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 period. Finally, Empowered Funds LLC raised its stake in TrustCo Bank Corp NY by 5.1% in the 4th quarter. Empowered Funds LLC now owns 75,233 shares of the bank's stock valued at $2,506,000 after acquiring an additional 3,617 shares during the period. 68.57% of the stock is owned by hedge funds and other institutional investors.

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TrustCo Bank Corp NY Stock Down 2.7 %

TrustCo Bank Corp NY stock traded down $0.78 during midday trading on Thursday, reaching $28.35. The stock had a trading volume of 38,073 shares, compared to its average volume of 89,785. The firm's 50-day moving average price is $31.34 and its 200 day moving average price is $33.09. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The firm has a market capitalization of $539.22 million, a PE ratio of 11.03 and a beta of 0.71.

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

TrustCo Bank Corp NY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY's dividend payout ratio is currently 56.03%.

TrustCo Bank Corp NY declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 18th that permits the company to buyback 0 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

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.