Royce & Associates LP Has $7.75 Million Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Royce & Associates LP lessened its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 232,730 shares of the bank’s stock after selling 27,526 shares during the quarter. Royce & Associates LP’s holdings in TrustCo Bank Corp NY were worth $7,752,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TrustCo Bank Corp NY by 105.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank’s stock worth $1,232,000 after purchasing an additional 18,954 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of TrustCo Bank Corp NY in the fourth quarter valued at about $218,000. Amundi increased its stake in TrustCo Bank Corp NY by 174.5% in the 4th quarter. Amundi now owns 9,568 shares of the bank’s stock valued at $303,000 after buying an additional 6,082 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth approximately $247,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth approximately $746,000. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Up 0.3 %

Shares of TRST opened at $30.38 on Wednesday. The stock has a 50 day moving average of $32.09 and a 200 day moving average of $33.55. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The company has a market capitalization of $577.52 million, a price-to-earnings ratio of 11.82 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST) last released 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 announced that its board has approved a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the bank to buy 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY’s payout ratio is 56.03%.

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.