Schwab Charles Investment Management Inc. grew its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 425,365 shares of the bank’s stock after acquiring an additional 23,973 shares during the period. Schwab Charles Investment Management Inc. owned about 0.44% of TrustCo Bank Corp NY worth $3,786,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of TrustCo Bank Corp NY by 0.3% during the second quarter. BlackRock Inc. now owns 11,714,992 shares of the bank’s stock valued at $90,792,000 after acquiring an additional 40,466 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in TrustCo Bank Corp NY by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,437,559 shares of the bank’s stock worth $42,141,000 after buying an additional 247,305 shares in the last quarter. Vanguard Group Inc. raised its stake in TrustCo Bank Corp NY by 0.4% in the second quarter. Vanguard Group Inc. now owns 5,207,992 shares of the bank’s stock worth $40,362,000 after buying an additional 22,345 shares in the last quarter. State Street Corp raised its stake in TrustCo Bank Corp NY by 2.8% in the second quarter. State Street Corp now owns 2,282,320 shares of the bank’s stock worth $17,691,000 after buying an additional 62,351 shares in the last quarter. Finally, Northern Trust Corp raised its stake in TrustCo Bank Corp NY by 1.1% in the second quarter. Northern Trust Corp now owns 1,429,103 shares of the bank’s stock worth $11,075,000 after buying an additional 16,232 shares in the last quarter. 58.71% of the stock is owned by hedge funds and other institutional investors.
TRST has been the subject of a number of research reports. BidaskClub downgraded shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Canaccord Genuity increased their price target on shares of TrustCo Bank Corp NY from $7.25 to $9.50 in a research note on Monday, December 4th. Finally, Sandler O’Neill set a $10.00 price target on shares of TrustCo Bank Corp NY and gave the stock a “hold” rating in a research note on Wednesday, January 3rd.
TrustCo Bank Corp NY (TRST) opened at $9.15 on Friday. TrustCo Bank Corp NY has a one year low of $7.25 and a one year high of $9.70. The stock has a market cap of $879.33, a PE ratio of 18.67 and a beta of 1.19.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. TrustCo Bank Corp NY had a net margin of 25.16% and a return on equity of 10.51%. The company had revenue of $44.03 million during the quarter. During the same period in the previous year, the company earned $0.11 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were paid a $65625.00 dividend. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $262,500.00 dividend on an annualized basis and a yield of 2,868,852.46%. The ex-dividend date was Thursday, November 30th. TrustCo Bank Corp NY’s dividend payout ratio is presently 53.06%.
In related news, Director William D. Powers sold 5,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $9.52, for a total value of $47,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.
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TrustCo Bank Corp NY Company Profile
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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