JPMorgan Chase & Co. Raises Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

JPMorgan Chase & Co. raised its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 69.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,008 shares of the bank’s stock after purchasing an additional 43,880 shares during the quarter. JPMorgan Chase & Co. owned about 0.56% of TrustCo Bank Corp NY worth $3,564,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TRST. Geode Capital Management LLC lifted its holdings in TrustCo Bank Corp NY by 1.4% in the third quarter. Geode Capital Management LLC now owns 442,783 shares of the bank’s stock valued at $14,646,000 after acquiring an additional 6,249 shares during the last quarter. American Century Companies Inc. raised its position in TrustCo Bank Corp NY by 9.5% in the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after purchasing an additional 35,343 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank’s stock valued at $5,904,000 after purchasing an additional 6,867 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of TrustCo Bank Corp NY by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank’s stock worth $3,070,000 after purchasing an additional 2,569 shares during the period. Finally, Empowered Funds LLC increased its position in shares of TrustCo Bank Corp NY by 5.1% during the 4th quarter. Empowered Funds LLC now owns 75,233 shares of the bank’s stock worth $2,506,000 after purchasing an additional 3,617 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Up 0.2 %

Shares of TRST opened at $28.52 on Monday. The firm has a market cap of $542.45 million, a P/E ratio of 11.10 and a beta of 0.71. The company’s 50-day moving average price is $30.68 and its 200 day moving average price is $32.88. TrustCo Bank Corp NY has a 12-month low of $26.14 and a 12-month high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share (EPS) 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 Dividend Announcement

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

TrustCo Bank Corp NY announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is 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.