First Trust Advisors LP Boosts Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

First Trust Advisors LP raised its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 24.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 86,426 shares of the bank’s stock after purchasing an additional 16,876 shares during the period. First Trust Advisors LP’s holdings in TrustCo Bank Corp NY were worth $704,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TRST. Nuveen Asset Management LLC purchased a new stake in TrustCo Bank Corp NY in the 2nd quarter valued at about $3,562,000. Morgan Stanley grew its position in shares of TrustCo Bank Corp NY by 135.0% during the 2nd quarter. Morgan Stanley now owns 632,300 shares of the bank’s stock valued at $5,008,000 after acquiring an additional 363,258 shares during the period. California Public Employees Retirement System grew its position in shares of TrustCo Bank Corp NY by 191.5% during the 3rd quarter. California Public Employees Retirement System now owns 230,543 shares of the bank’s stock valued at $1,879,000 after acquiring an additional 151,460 shares during the period. Acadian Asset Management LLC grew its position in shares of TrustCo Bank Corp NY by 125.2% during the 2nd quarter. Acadian Asset Management LLC now owns 209,532 shares of the bank’s stock valued at $1,660,000 after acquiring an additional 116,471 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of TrustCo Bank Corp NY during the 3rd quarter valued at approximately $924,000. Hedge funds and other institutional investors own 63.45% of the company’s stock.

TRST has been the subject of a number of research reports. ValuEngine downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. BidaskClub raised shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd.

TrustCo Bank Corp NY stock opened at $8.72 on Tuesday. TrustCo Bank Corp NY has a twelve month low of $6.51 and a twelve month high of $8.92. The firm has a 50 day moving average price of $8.59 and a 200-day moving average price of $8.02. The company has a market capitalization of $850.93 million, a P/E ratio of 14.16 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, October 21st. The bank reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. TrustCo Bank Corp NY had a net margin of 28.50% and a return on equity of 11.80%. The firm had revenue of $43.57 million during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.068 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, December 5th.

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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.

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Want to see what other hedge funds are holding TRST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrustCo Bank Corp NY (NASDAQ:TRST).

Institutional Ownership by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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