35,173 Shares in TrustCo Bank Corp NY $TRST Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,173 shares of the bank’s stock, valued at approximately $1,175,000. Y Intercept Hong Kong Ltd owned 0.18% of TrustCo Bank Corp NY at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TRST. GAMMA Investing LLC boosted its holdings in TrustCo Bank Corp NY by 51.4% in the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank’s stock valued at $53,000 after purchasing an additional 592 shares during the period. New York State Teachers Retirement System increased its position in shares of 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 purchasing an additional 436 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of TrustCo Bank Corp NY by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 94,687 shares of the bank’s stock worth $2,886,000 after purchasing an additional 2,529 shares in the last quarter. Cerity Partners LLC increased its position in shares of TrustCo Bank Corp NY by 16.3% during the 1st quarter. Cerity Partners LLC now owns 8,393 shares of the bank’s stock worth $256,000 after purchasing an additional 1,175 shares in the last quarter. Finally, CWM LLC increased its position in TrustCo Bank Corp NY by 23.3% in the 1st quarter. CWM LLC now owns 7,626 shares of the bank’s stock valued at $232,000 after acquiring an additional 1,440 shares in the last quarter. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $38.33 on Tuesday. TrustCo Bank Corp NY has a twelve month low of $27.18 and a twelve month high of $40.96. The firm’s 50 day moving average price is $37.91 and its two-hundred day moving average price is $34.65. The firm has a market cap of $722.56 million, a P/E ratio of 12.82 and a beta of 0.66.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. TrustCo Bank Corp NY had a net margin of 20.74% and a return on equity of 8.27%. The firm had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share.

TrustCo Bank Corp NY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, September 5th. TrustCo Bank Corp NY’s dividend payout ratio is 50.84%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

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.