Deutsche Bank AG Purchases 1,221 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Deutsche Bank AG grew its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,920 shares of the bank’s stock after purchasing an additional 1,221 shares during the quarter. Deutsche Bank AG owned about 0.05% of TrustCo Bank Corp NY worth $330,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRST. Wilmington Savings Fund Society FSB acquired a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth approximately $29,000. Empowered Funds LLC boosted its stake in TrustCo Bank Corp NY by 5.1% in the 4th quarter. Empowered Funds LLC now owns 75,233 shares of the bank’s stock valued at $2,506,000 after purchasing an additional 3,617 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in TrustCo Bank Corp NY by 9.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 74,892 shares of the bank’s stock valued at $2,495,000 after purchasing an additional 6,504 shares during the period. Principal Financial Group Inc. lifted its position 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 valued at $3,070,000 after acquiring an additional 2,569 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of TrustCo Bank Corp NY during the 4th quarter valued at $746,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST opened at $31.10 on Friday. TrustCo Bank Corp NY has a fifty-two week low of $26.14 and a fifty-two week high of $38.89. The company has a market cap of $591.52 million, a price-to-earnings ratio of 12.10 and a beta of 0.64. The stock has a fifty day moving average price of $30.30 and a 200-day moving average price of $32.34.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $45.35 million during the quarter, compared to the consensus estimate of $44.99 million.

TrustCo Bank Corp NY Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.36 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.63%. TrustCo Bank Corp NY’s payout ratio is presently 53.73%.

TrustCo Bank Corp NY announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

TrustCo Bank Corp NY Company 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.