UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in TrustCo Bank Corp NY (NASDAQ:TRST)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 69.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,499 shares of the bank’s stock after buying an additional 16,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of TrustCo Bank Corp NY worth $1,316,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TRST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TrustCo Bank Corp NY by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,568 shares of the bank’s stock valued at $352,000 after acquiring an additional 362 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of TrustCo Bank Corp NY by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 11,207 shares of the bank’s stock valued at $373,000 after purchasing an additional 846 shares during the last quarter. Barclays PLC lifted its position in shares of TrustCo Bank Corp NY by 2.3% during the fourth quarter. Barclays PLC now owns 38,579 shares of the bank’s stock valued at $1,285,000 after purchasing an additional 850 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TrustCo Bank Corp NY during the fourth quarter worth about $29,000. Finally, Deutsche Bank AG grew its position in TrustCo Bank Corp NY by 14.0% in the 4th quarter. Deutsche Bank AG now owns 9,920 shares of the bank’s stock worth $330,000 after purchasing an additional 1,221 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST opened at $31.46 on Monday. TrustCo Bank Corp NY has a 52 week low of $26.14 and a 52 week high of $38.89. The firm has a 50-day moving average price of $30.35 and a two-hundred day moving average price of $32.13. The firm has a market cap of $598.37 million, a price-to-earnings ratio of 12.24 and a beta of 0.64.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10. The company had revenue of $45.35 million during the quarter, compared to analyst estimates 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, June 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 53.73%.

TrustCo Bank Corp NY declared that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are often 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.