Comerica Bank Sells 390 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Comerica Bank decreased its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,605 shares of the bank’s stock after selling 390 shares during the quarter. Comerica Bank’s holdings in TrustCo Bank Corp NY were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of TrustCo Bank Corp NY by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank’s stock valued at $41,022,000 after acquiring an additional 15,482 shares in the last quarter. Franklin Resources Inc. grew its holdings in TrustCo Bank Corp NY by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 450,602 shares of the bank’s stock worth $15,010,000 after buying an additional 7,712 shares in the last quarter. American Century Companies Inc. grew its holdings in TrustCo Bank Corp NY by 9.5% during the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock worth $13,581,000 after buying an additional 35,343 shares in the last quarter. Invesco Ltd. grew its stake in TrustCo Bank Corp NY by 277.3% in the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock valued at $8,278,000 after purchasing an additional 182,634 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 period. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $32.24 on Friday. The company has a market capitalization of $613.20 million, a PE ratio of 12.54 and a beta of 0.64. The business has a fifty day moving average price of $30.15 and a two-hundred day moving average price of $32.62. TrustCo Bank Corp NY has a 1 year low of $26.14 and a 1 year high of $38.89.

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

TrustCo Bank Corp NY declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 18th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared 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 of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.47%. TrustCo Bank Corp NY’s dividend payout ratio is presently 53.73%.

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.