American Century Companies Inc. boosted its holdings in TrustCo Bank Corp NY (NASDAQ:TRST – Free Report) by 18.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,695 shares of the bank’s stock after purchasing an additional 26,400 shares during the period. American Century Companies Inc. owned about 0.89% of TrustCo Bank Corp NY worth $5,383,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of TRST. Bank of New York Mellon Corp increased its holdings in TrustCo Bank Corp NY by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 238,590 shares of the bank’s stock worth $7,619,000 after purchasing an additional 1,909 shares during the last quarter. Citigroup Inc. increased its holdings in TrustCo Bank Corp NY by 10.1% during the 1st quarter. Citigroup Inc. now owns 17,218 shares of the bank’s stock worth $550,000 after purchasing an additional 1,582 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in TrustCo Bank Corp NY by 12.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,279 shares of the bank’s stock worth $265,000 after purchasing an additional 892 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $1,102,000. Finally, MetLife Investment Management LLC increased its holdings in TrustCo Bank Corp NY by 53.3% during the 1st quarter. MetLife Investment Management LLC now owns 11,889 shares of the bank’s stock worth $380,000 after purchasing an additional 4,133 shares during the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research report on Friday, August 25th.
TrustCo Bank Corp NY Trading Up 0.1 %
Shares of TRST opened at $28.33 on Thursday. The firm has a market cap of $538.95 million, a price-to-earnings ratio of 7.26 and a beta of 0.91. The stock has a 50 day moving average of $29.38 and a 200-day moving average of $30.56. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $39.36.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. TrustCo Bank Corp NY had a return on equity of 12.27% and a net margin of 32.40%. The business had revenue of $60.68 million during the quarter, compared to analyst estimates of $49.58 million. During the same quarter in the previous year, the firm posted $0.93 EPS. On average, sell-side analysts predict that TrustCo Bank Corp NY will post 3.28 earnings per share for the current fiscal year.
TrustCo Bank Corp NY Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.44 dividend on an annualized basis and a yield of 5.08%. TrustCo Bank Corp NY’s dividend payout ratio is currently 36.92%.
About TrustCo Bank Corp NY
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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