Tower Research Capital LLC TRC raised its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST – Free Report) by 7,024.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,768 shares of the bank’s stock after acquiring an additional 6,673 shares during the quarter. Tower Research Capital LLC TRC’s holdings in TrustCo Bank Corp NY were worth $216,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in TRST. Ancora Advisors LLC increased its stake in shares of TrustCo Bank Corp NY by 499.0% in the first quarter. Ancora Advisors LLC now owns 131,314 shares of the bank’s stock worth $968,000 after acquiring an additional 109,391 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TrustCo Bank Corp NY by 45.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 308,685 shares of the bank’s stock worth $9,520,000 after purchasing an additional 96,587 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY by 181.1% during the 4th quarter. JPMorgan Chase & Co. now owns 138,926 shares of the bank’s stock worth $5,223,000 after purchasing an additional 89,509 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of TrustCo Bank Corp NY by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank’s stock valued at $43,173,000 after buying an additional 50,079 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in TrustCo Bank Corp NY by 83.4% in the first quarter. Hsbc Holdings PLC now owns 95,728 shares of the bank’s stock worth $3,050,000 after buying an additional 43,523 shares during the last quarter. 67.80% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Friday.
TrustCo Bank Corp NY Stock Performance
Shares of TRST stock opened at $28.24 on Monday. The stock’s 50 day simple moving average is $29.46 and its 200 day simple moving average is $31.00. TrustCo Bank Corp NY has a twelve month low of $27.18 and a twelve month high of $39.36. The company has a market capitalization of $537.12 million, a price-to-earnings ratio of 7.24 and a beta of 0.91.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. TrustCo Bank Corp NY had a net margin of 32.40% and a return on equity of 12.27%. The company had revenue of $60.68 million for the quarter, compared to analyst estimates of $49.58 million. During the same quarter last year, the firm posted $0.93 earnings per share. On average, analysts forecast that TrustCo Bank Corp NY will post 3.28 EPS for the current fiscal year.
TrustCo Bank Corp NY Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.44 annualized dividend and a yield of 5.10%. TrustCo Bank Corp NY’s payout ratio is 36.92%.
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, 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.
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