Amundi Acquires 6,082 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Amundi increased its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 174.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,568 shares of the bank’s stock after acquiring an additional 6,082 shares during the period. Amundi owned about 0.05% of TrustCo Bank Corp NY worth $303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TRST. Systematic Financial Management LP raised its position in TrustCo Bank Corp NY by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock valued at $36,693,000 after purchasing an additional 161,001 shares in the last quarter. Verition Fund Management LLC grew its stake in TrustCo Bank Corp NY by 35.2% during the 3rd quarter. Verition Fund Management LLC now owns 290,208 shares of the bank’s stock worth $9,597,000 after buying an additional 75,594 shares during the last quarter. Martingale Asset Management L P purchased a new position in TrustCo Bank Corp NY during the 3rd quarter worth $934,000. JPMorgan Chase & Co. grew its stake in TrustCo Bank Corp NY by 74.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank’s stock worth $2,088,000 after buying an additional 26,881 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in TrustCo Bank Corp NY during the 4th quarter valued at about $746,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Stock Performance

TrustCo Bank Corp NY stock opened at $30.31 on Friday. The business’s 50-day simple moving average is $32.06 and its two-hundred day simple moving average is $33.48. The company has a market cap of $576.19 million, a PE ratio of 11.79 and a beta of 0.80. TrustCo Bank Corp NY has a fifty-two week low of $25.83 and a fifty-two week high of $38.89.

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

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a $0.36 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.75%. TrustCo Bank Corp NY’s payout ratio is 56.03%.

TrustCo Bank Corp NY declared that its board has authorized a share repurchase program on Tuesday, March 18th that allows the company to repurchase 0 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.