TrustCo Bank Corp NY (NASDAQ:TRST) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,851 shares of the bank’s stock after acquiring an additional 1,655 shares during the quarter. LPL Financial LLC owned approximately 0.06% of TrustCo Bank Corp NY worth $361,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in TRST. KLP Kapitalforvaltning AS purchased a new stake in TrustCo Bank Corp NY during the fourth quarter worth approximately $120,000. American Century Companies Inc. grew its position in shares of TrustCo Bank Corp NY by 9.5% in the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after buying an additional 35,343 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in TrustCo Bank Corp NY by 105.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank’s stock worth $1,232,000 after acquiring an additional 18,954 shares in the last quarter. AlphaQuest LLC purchased a new stake in TrustCo Bank Corp NY in the fourth quarter valued at $218,000. Finally, Amundi boosted its stake in TrustCo Bank Corp NY by 174.5% in the fourth quarter. Amundi now owns 9,568 shares of the bank’s stock valued at $303,000 after acquiring an additional 6,082 shares in the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

Shares of TRST stock opened at $30.36 on Friday. The stock’s 50-day moving average is $30.33 and its two-hundred day moving average is $32.81. TrustCo Bank Corp NY has a 1 year low of $26.14 and a 1 year high of $38.89. The firm has a market cap of $577.45 million, a price-to-earnings ratio of 11.81 and a beta of 0.71.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $45.35 million for the quarter, compared to the consensus estimate of $44.99 million. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY announced that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback 0 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

The firm 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 4.74%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 53.73%.

TrustCo Bank Corp NY 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 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.