Geode Capital Management LLC Has $14.74 Million Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Geode Capital Management LLC decreased its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,425 shares of the bank’s stock after selling 358 shares during the quarter. Geode Capital Management LLC owned about 2.33% of TrustCo Bank Corp NY worth $14,741,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in TrustCo Bank Corp NY by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 450,602 shares of the bank’s stock valued at $15,010,000 after purchasing an additional 7,712 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TrustCo Bank Corp NY by 69.5% during the fourth quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank’s stock worth $3,564,000 after buying an additional 43,880 shares in the last quarter. Graney & King LLC bought a new stake in shares of TrustCo Bank Corp NY in the fourth quarter valued at about $142,000. EntryPoint Capital LLC acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at about $223,000. Finally, Prudential Financial Inc. increased its position in TrustCo Bank Corp NY by 35.5% during the fourth quarter. Prudential Financial Inc. now owns 38,960 shares of the bank’s stock worth $1,298,000 after acquiring an additional 10,200 shares during the period. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Up 0.2 %

Shares of TrustCo Bank Corp NY stock opened at $28.52 on Monday. The stock has a market capitalization of $542.45 million, a price-to-earnings ratio of 11.10 and a beta of 0.71. TrustCo Bank Corp NY has a twelve month low of $26.14 and a twelve month high of $38.89. The company has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $32.88.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a dividend of $0.36 per share. The ex-dividend date was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.05%. TrustCo Bank Corp NY’s payout ratio is 56.03%.

TrustCo Bank Corp NY declared that its Board of Directors has approved a share buyback program on Tuesday, March 18th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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 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.