Texas Permanent School Fund Corp Increases Stock Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Texas Permanent School Fund Corp lifted its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 46.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,315 shares of the bank’s stock after buying an additional 7,665 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.13% of TrustCo Bank Corp NY worth $700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRST. Hsbc Holdings PLC purchased a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth about $2,672,000. Acadian Asset Management LLC raised its stake in TrustCo Bank Corp NY by 270.4% in the second quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock valued at $2,550,000 after purchasing an additional 64,751 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TrustCo Bank Corp NY by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock valued at $36,836,000 after purchasing an additional 33,892 shares in the last quarter. Bank of New York Mellon Corp raised its stake in TrustCo Bank Corp NY by 8.6% in the second 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, Boston Partners purchased a new stake in TrustCo Bank Corp NY in the first quarter valued at approximately $525,000. 68.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

TrustCo Bank Corp NY Price Performance

Shares of TRST opened at $33.65 on Friday. The firm’s 50 day simple moving average is $33.45 and its 200 day simple moving average is $29.64. The company has a market capitalization of $640.16 million, a P/E ratio of 12.06 and a beta of 0.82. TrustCo Bank Corp NY has a 1-year low of $23.78 and a 1-year high of $36.51.

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

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 51.61%.

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.