4,258 Shares in TrustCo Bank Corp NY (NASDAQ:TRST) Acquired by Graney & King LLC

Graney & King LLC purchased a new stake in TrustCo Bank Corp NY (NASDAQ:TRST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,258 shares of the bank’s stock, valued at approximately $142,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRST. Systematic Financial Management LP boosted its stake in TrustCo Bank Corp NY by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock worth $36,693,000 after purchasing an additional 161,001 shares during the period. Verition Fund Management LLC lifted its holdings in shares of TrustCo Bank Corp NY by 35.2% in the third quarter. Verition Fund Management LLC now owns 290,208 shares of the bank’s stock valued at $9,597,000 after purchasing an additional 75,594 shares in the last quarter. American Century Companies Inc. boosted its position in shares of TrustCo Bank Corp NY by 9.5% during the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock worth $13,581,000 after buying an additional 35,343 shares during the period. Martingale Asset Management L P bought a new position in shares of TrustCo Bank Corp NY during the third quarter worth about $934,000. Finally, JPMorgan Chase & Co. raised its position in TrustCo Bank Corp NY by 74.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank’s stock valued at $2,088,000 after buying an additional 26,881 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Down 0.6 %

NASDAQ TRST opened at $30.76 on Wednesday. The firm’s 50 day moving average is $32.04 and its 200-day moving average is $33.44. The company has a market capitalization of $585.06 million, a PE ratio of 11.97 and a beta of 0.80. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, March 7th. TrustCo Bank Corp NY’s payout ratio is presently 56.03%.

TrustCo Bank Corp NY announced that its board has initiated a stock buyback plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.