Arrowstreet Capital Limited Partnership Raises Holdings in TrustCo Bank Corp NY $TRST

Arrowstreet Capital Limited Partnership increased its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 62.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,209 shares of the bank’s stock after buying an additional 99,411 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.37% of TrustCo Bank Corp NY worth $8,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new stake in TrustCo Bank Corp NY in the second quarter valued at approximately $402,000. Strs Ohio purchased a new stake in TrustCo Bank Corp NY during the 1st quarter worth approximately $442,000. Geode Capital Management LLC boosted its stake in TrustCo Bank Corp NY by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 510,547 shares of the bank’s stock worth $17,065,000 after purchasing an additional 17,358 shares during the last quarter. American Century Companies Inc. raised its holdings in TrustCo Bank Corp NY by 8.1% in the 1st quarter. American Century Companies Inc. now owns 440,874 shares of the bank’s stock valued at $13,438,000 after acquiring an additional 33,171 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in TrustCo Bank Corp NY by 11.6% in the 1st quarter. Voya Investment Management LLC now owns 31,984 shares of the bank’s stock valued at $975,000 after buying an additional 3,322 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, TrustCo Bank Corp NY currently has an average rating of “Buy”.

TrustCo Bank Corp NY Stock Up 2.7%

Shares of NASDAQ:TRST opened at $44.76 on Thursday. The firm’s 50 day moving average price is $39.09 and its 200 day moving average price is $36.53. The stock has a market cap of $824.48 million, a price-to-earnings ratio of 14.97 and a beta of 0.65. TrustCo Bank Corp NY has a fifty-two week low of $27.18 and a fifty-two week high of $45.13.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted 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. The company had revenue of $47.81 million for the quarter, compared to analysts’ expectations of $47.27 million. TrustCo Bank Corp NY had a return on equity of 8.27% and a net margin of 20.74%.During the same period last year, the firm earned $0.68 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, December 5th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 50.84%.

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.