Cetera Investment Advisers Takes Position in TrustCo Bank Corp NY $TRST

Cetera Investment Advisers purchased a new position in TrustCo Bank Corp NY (NASDAQ:TRST) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,623 shares of the bank’s stock, valued at approximately $232,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC grew its stake in shares of TrustCo Bank Corp NY by 23.3% during the first quarter. CWM LLC now owns 7,626 shares of the bank’s stock valued at $232,000 after purchasing an additional 1,440 shares during the last quarter. Cerity Partners LLC lifted its position in TrustCo Bank Corp NY by 16.3% in the 1st quarter. Cerity Partners LLC now owns 8,393 shares of the bank’s stock valued at $256,000 after acquiring an additional 1,175 shares in the last quarter. Principal Financial Group Inc. lifted its position in TrustCo Bank Corp NY by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 94,687 shares of the bank’s stock valued at $2,886,000 after acquiring an additional 2,529 shares in the last quarter. New York State Teachers Retirement System lifted its position in TrustCo Bank Corp NY by 1.4% during the 1st quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank’s stock worth $932,000 after buying an additional 436 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of TrustCo Bank Corp NY by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 26,878 shares of the bank’s stock worth $819,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Up 0.2%

NASDAQ TRST opened at $36.06 on Friday. The firm has a 50-day moving average price of $34.04 and a two-hundred day moving average price of $32.09. TrustCo Bank Corp NY has a 12-month low of $27.18 and a 12-month high of $38.89. The company has a market capitalization of $679.73 million, a P/E ratio of 12.83 and a beta of 0.70.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.10. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%. The firm had revenue of $46.60 million during the quarter, compared to analysts’ expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 5th. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.2%. TrustCo Bank Corp NY’s payout ratio is 51.25%.

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.