Royce & Associates LP Has $7.75 Million Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Royce & Associates LP cut its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,730 shares of the bank's stock after selling 27,526 shares during the period. Royce & Associates LP owned 1.22% of TrustCo Bank Corp NY worth $7,752,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in TrustCo Bank Corp NY by 74.2% during the third quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank's stock worth $2,088,000 after purchasing an additional 26,881 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of TrustCo Bank Corp NY by 29.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,305 shares of the bank's stock worth $771,000 after acquiring an additional 5,248 shares during the period. Principal Financial Group Inc. increased its holdings in shares of TrustCo Bank Corp NY by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank's stock worth $3,070,000 after acquiring an additional 2,569 shares during the last quarter. Barclays PLC boosted its holdings in shares of TrustCo Bank Corp NY by 134.4% during the 3rd quarter. Barclays PLC now owns 37,729 shares of the bank's stock worth $1,247,000 after buying an additional 21,633 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in TrustCo Bank Corp NY in the 3rd quarter valued at about $596,000. 68.57% of the stock is currently owned by institutional investors and hedge funds.

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TrustCo Bank Corp NY Trading Down 1.2 %

TRST stock traded down $0.36 during mid-day trading on Friday, hitting $30.31. 230,425 shares of the company were exchanged, compared to its average volume of 77,463. TrustCo Bank Corp NY has a 1-year low of $25.83 and a 1-year high of $38.89. The business has a 50 day simple moving average of $32.06 and a 200-day simple moving average of $33.48. The stock has a market capitalization of $576.50 million, a PE ratio of 11.79 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share 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 declared that its Board of Directors has initiated a share buyback program on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid 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 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.