323,015 Shares in TrustCo Bank Corp NY $TRST Acquired by HoldCo Asset Management LP

HoldCo Asset Management LP bought a new stake in TrustCo Bank Corp NY (NASDAQ:TRST) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 323,015 shares of the bank’s stock, valued at approximately $10,795,000. TrustCo Bank Corp NY comprises about 1.7% of HoldCo Asset Management LP’s investment portfolio, making the stock its 10th largest position. HoldCo Asset Management LP owned about 1.71% of TrustCo Bank Corp NY at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in shares of TrustCo Bank Corp NY in the first quarter valued at $232,000. Vanguard Group Inc. boosted its holdings in TrustCo Bank Corp NY by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank’s stock valued at $38,555,000 after acquiring an additional 37,096 shares during the period. Deutsche Bank AG grew its position in TrustCo Bank Corp NY by 13.8% in the 1st quarter. Deutsche Bank AG now owns 11,290 shares of the bank’s stock valued at $344,000 after acquiring an additional 1,370 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in TrustCo Bank Corp NY by 50.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,693 shares of the bank’s stock worth $1,698,000 after purchasing an additional 18,706 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of TrustCo Bank Corp NY during the first quarter worth about $1,494,000. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $44.38 on Friday. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $45.27. The stock has a market capitalization of $817.48 million, a PE ratio of 14.84 and a beta of 0.65. The stock has a 50-day simple moving average of $39.43 and a 200-day simple moving average of $36.68.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. TrustCo Bank Corp NY had a net margin of 20.74% and a return on equity of 8.27%. The firm had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. During the same period in the prior year, the firm earned $0.68 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, December 5th. TrustCo Bank Corp NY’s payout ratio is 50.84%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a report on Monday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

TrustCo Bank Corp NY Company 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.