TrustCo Bank Corp NY $TRST Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 24.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,726 shares of the bank’s stock after selling 13,791 shares during the period. GSA Capital Partners LLP owned approximately 0.23% of TrustCo Bank Corp NY worth $1,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in TrustCo Bank Corp NY by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,313 shares of the bank’s stock valued at $84,000 after acquiring an additional 415 shares during the period. Gabelli Funds LLC lifted its position in TrustCo Bank Corp NY by 0.6% during the second quarter. Gabelli Funds LLC now owns 75,730 shares of the bank’s stock valued at $2,531,000 after purchasing an additional 425 shares during the period. Hantz Financial Services Inc. boosted its holdings in TrustCo Bank Corp NY by 108.1% in the third quarter. Hantz Financial Services Inc. now owns 872 shares of the bank’s stock valued at $32,000 after purchasing an additional 453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TrustCo Bank Corp NY by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock valued at $336,000 after purchasing an additional 468 shares during the last quarter. Finally, First Trust Advisors LP grew its position in TrustCo Bank Corp NY by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 18,105 shares of the bank’s stock worth $605,000 after purchasing an additional 723 shares during the period. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TrustCo Bank Corp NY stock opened at $45.95 on Wednesday. The firm has a 50-day simple moving average of $43.50 and a two-hundred day simple moving average of $40.11. TrustCo Bank Corp NY has a fifty-two week low of $27.18 and a fifty-two week high of $48.45. The company has a market cap of $846.40 million, a P/E ratio of 14.14 and a beta of 0.62.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Wednesday, January 21st. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $48.17 million for the quarter, compared to analysts’ expectations of $48.69 million. TrustCo Bank Corp NY had a return on equity of 8.86% and a net margin of 21.96%.During the same period last year, the firm earned $0.59 EPS.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.38 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. TrustCo Bank Corp NY’s payout ratio is 46.77%.

TrustCo Bank Corp NY declared that its board has authorized a share buyback program on Friday, December 19th that authorizes the company to buyback $2.00 million in shares. This buyback authorization authorizes the bank to purchase up to 0.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, TrustCo Bank Corp NY currently has an average rating of “Buy”.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.