Schwab Charles Investment Management Inc. raised its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 6.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 425,365 shares of the bank’s stock after purchasing an additional 23,973 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.44% of TrustCo Bank Corp NY worth $3,786,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in TrustCo Bank Corp NY by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,437,559 shares of the bank’s stock valued at $42,141,000 after purchasing an additional 247,305 shares during the period. Context BH Capital Management LP lifted its stake in TrustCo Bank Corp NY by 20.0% during the 2nd quarter. Context BH Capital Management LP now owns 209,782 shares of the bank’s stock valued at $1,626,000 after acquiring an additional 34,921 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in TrustCo Bank Corp NY by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 36,030 shares of the bank’s stock valued at $321,000 after acquiring an additional 13,420 shares in the last quarter. Systematic Financial Management LP lifted its stake in TrustCo Bank Corp NY by 27.6% during the 3rd quarter. Systematic Financial Management LP now owns 945,491 shares of the bank’s stock valued at $8,415,000 after acquiring an additional 204,471 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in TrustCo Bank Corp NY by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,429,103 shares of the bank’s stock valued at $11,075,000 after acquiring an additional 16,232 shares in the last quarter. 58.71% of the stock is owned by institutional investors and hedge funds.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 5,000 shares of TrustCo Bank Corp NY stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $9.52, for a total transaction of $47,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.
Shares of TrustCo Bank Corp NY (NASDAQ:TRST) opened at $9.15 on Friday. TrustCo Bank Corp NY has a twelve month low of $7.25 and a twelve month high of $9.70. The firm has a market capitalization of $879.39, a PE ratio of 19.06 and a beta of 1.19.
TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $44.03 million during the quarter. TrustCo Bank Corp NY had a return on equity of 10.51% and a net margin of 25.16%. During the same period last year, the business posted $0.11 EPS.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were issued a dividend of $65625.00 per share. This represents a $262,500.00 dividend on an annualized basis and a yield of 2,868,852.46%. The ex-dividend date of this dividend was Thursday, November 30th. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. TrustCo Bank Corp NY’s payout ratio is presently 54.17%.
TRST has been the topic of several recent analyst reports. Canaccord Genuity restated a “speculative buy” rating and set a $7.25 price objective on shares of TrustCo Bank Corp NY in a research note on Wednesday, October 18th. BidaskClub cut TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Sandler O’Neill set a $10.00 target price on TrustCo Bank Corp NY and gave the stock a “hold” rating in a research note on Wednesday, January 3rd.
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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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