SG Americas Securities LLC Makes New $229,000 Investment in TrustCo Bank Corp NY (NASDAQ:TRST)

SG Americas Securities LLC bought a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,916 shares of the bank’s stock, valued at approximately $229,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of TrustCo Bank Corp NY by 26.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock valued at $51,000 after acquiring an additional 378 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of TrustCo Bank Corp NY by 577.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock valued at $85,000 after acquiring an additional 2,508 shares during the last quarter. CWM LLC lifted its stake in shares of TrustCo Bank Corp NY by 547.5% in the 2nd quarter. CWM LLC now owns 4,565 shares of the bank’s stock valued at $131,000 after acquiring an additional 3,860 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of TrustCo Bank Corp NY in the 2nd quarter valued at $219,000. Finally, Intech Investment Management LLC bought a new position in shares of TrustCo Bank Corp NY in the 2nd quarter valued at $290,000. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $32.58 on Tuesday. TrustCo Bank Corp NY has a 52 week low of $23.78 and a 52 week high of $36.51. The stock has a market capitalization of $619.35 million, a price-to-earnings ratio of 12.63 and a beta of 0.81. The stock has a fifty day moving average of $33.19 and a 200-day moving average of $30.42.

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

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 55.60%.

TrustCo Bank Corp NY Company 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.