TrustCo Bank Corp NY (NASDAQ:TRST) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) by 109.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,237 shares of the bank’s stock after acquiring an additional 1,171 shares during the quarter. Lazard Asset Management LLC’s holdings in TrustCo Bank Corp NY were worth $68,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its holdings in TrustCo Bank Corp NY by 221.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 27,709 shares of the bank’s stock worth $855,000 after buying an additional 19,087 shares during the period. Graypoint LLC increased its holdings in TrustCo Bank Corp NY by 88.8% in the 2nd quarter. Graypoint LLC now owns 21,919 shares of the bank’s stock worth $676,000 after buying an additional 10,308 shares during the period. Bailard Inc. acquired a new position in TrustCo Bank Corp NY in the 2nd quarter worth approximately $490,000. Truist Financial Corp acquired a new position in TrustCo Bank Corp NY in the 2nd quarter worth approximately $341,000. Finally, Brinker Capital Investments LLC increased its holdings in TrustCo Bank Corp NY by 12.9% in the 2nd quarter. Brinker Capital Investments LLC now owns 10,958 shares of the bank’s stock worth $338,000 after buying an additional 1,249 shares during the period. Institutional investors and hedge funds own 65.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRST. TheStreet upgraded shares of TrustCo Bank Corp NY from a “c+” rating to a “b-” rating in a report on Thursday, July 28th. StockNews.com downgraded shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a report on Saturday, November 19th.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST opened at $38.80 on Friday. The stock has a market capitalization of $739.14 million, a price-to-earnings ratio of 10.54 and a beta of 0.94. TrustCo Bank Corp NY has a 12 month low of $29.50 and a 12 month high of $39.36. The firm’s 50 day simple moving average is $35.06 and its 200-day simple moving average is $33.24.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The bank reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. TrustCo Bank Corp NY had a net margin of 36.13% and a return on equity of 11.87%. During the same quarter in the previous year, the business posted $0.87 EPS. Analysts anticipate that TrustCo Bank Corp NY will post 3.83 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be given a dividend of $0.36 per share. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, December 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.71%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 38.04%.

About TrustCo Bank Corp NY

(Get Rating)

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, partnerships, and corporations. 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.

See Also

Institutional Ownership by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

Receive News & Ratings for TrustCo Bank Corp NY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrustCo Bank Corp NY and related companies with MarketBeat.com's FREE daily email newsletter.