Teacher Retirement System of Texas Has $673,000 Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Teacher Retirement System of Texas lowered its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,197 shares of the bank’s stock after selling 2,578 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of TrustCo Bank Corp NY worth $673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in TrustCo Bank Corp NY in the 4th quarter worth approximately $29,000. Versant Capital Management Inc lifted its stake in shares of TrustCo Bank Corp NY by 263.7% in the fourth quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock worth $31,000 after buying an additional 683 shares during the last quarter. R Squared Ltd acquired a new stake in shares of TrustCo Bank Corp NY in the fourth quarter valued at about $91,000. AlphaQuest LLC bought a new position in TrustCo Bank Corp NY in the 4th quarter worth approximately $218,000. Finally, FMR LLC boosted its holdings in TrustCo Bank Corp NY by 225.6% in the 3rd quarter. FMR LLC now owns 7,189 shares of the bank’s stock valued at $238,000 after purchasing an additional 4,981 shares during the period. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Down 1.5 %

TrustCo Bank Corp NY stock opened at $30.50 on Monday. The stock has a market cap of $580.11 million, a price-to-earnings ratio of 11.87 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. The business has a 50 day moving average price of $31.95 and a two-hundred day moving average price of $33.40.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.72%. TrustCo Bank Corp NY’s dividend payout ratio is 56.03%.

TrustCo Bank Corp NY announced that its board has approved a stock buyback plan on Tuesday, March 18th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are 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.