TrustCo Bank Corp NY (NASDAQ:TRST) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP increased its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 948,560 shares of the bank’s stock after buying an additional 6,839 shares during the period. Systematic Financial Management LP’s holdings in TrustCo Bank Corp NY were worth $27,290,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth $2,672,000. Acadian Asset Management LLC acquired a new position in TrustCo Bank Corp NY during the 1st quarter worth $672,000. Boston Partners acquired a new stake in TrustCo Bank Corp NY in the 1st quarter valued at about $525,000. Bank of New York Mellon Corp raised its position in TrustCo Bank Corp NY by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock valued at $6,998,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in TrustCo Bank Corp NY by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock valued at $37,335,000 after acquiring an additional 14,183 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research report on Monday, June 17th.

TrustCo Bank Corp NY Stock Down 0.3 %

Shares of TRST opened at $32.52 on Friday. The company has a market capitalization of $618.21 million, a price-to-earnings ratio of 11.66 and a beta of 0.82. TrustCo Bank Corp NY has a 52-week low of $23.78 and a 52-week high of $36.51. The stock has a 50 day moving average price of $33.50 and a 200 day moving average price of $29.82.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, July 22nd. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. TrustCo Bank Corp NY had a net margin of 19.22% and a return on equity of 7.65%. The firm had revenue of $66.24 million for the quarter, compared to the consensus estimate of $40.94 million. During the same period last year, the firm posted $0.86 EPS.

TrustCo Bank Corp NY Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, September 6th. TrustCo Bank Corp NY’s payout ratio is 51.61%.

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.