Vanguard Group Inc. Sells 92,320 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Vanguard Group Inc. trimmed its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,227,838 shares of the bank's stock after selling 92,320 shares during the quarter. Vanguard Group Inc. owned approximately 6.46% of TrustCo Bank Corp NY worth $40,899,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TRST. Geode Capital Management LLC boosted 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 worth $14,646,000 after purchasing an additional 6,249 shares during the period. American Century Companies Inc. grew its holdings in shares of TrustCo Bank Corp NY by 9.5% during the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank's stock valued at $13,581,000 after buying an additional 35,343 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $5,904,000 after acquiring an additional 6,867 shares in the last quarter. Principal Financial Group Inc. boosted its position in 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 period. Finally, Empowered Funds LLC grew its stake in TrustCo Bank Corp NY by 5.1% during 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 in the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

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TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST traded up $0.30 during mid-day trading on Tuesday, reaching $28.17. The company had a trading volume of 87,100 shares, compared to its average volume of 85,298. The company has a market capitalization of $535.79 million, a price-to-earnings ratio of 10.96 and a beta of 0.71. The stock has a fifty day moving average of $31.07 and a two-hundred day moving average of $32.99. TrustCo Bank Corp NY has a 12-month low of $25.85 and a 12-month high of $38.89.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.11%. TrustCo Bank Corp NY's dividend payout ratio (DPR) is currently 56.03%.

TrustCo Bank Corp NY announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 18th that permits the company to buyback 0 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are 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.