Royce & Associates LP Sells 27,526 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Royce & Associates LP reduced its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,730 shares of the bank’s stock after selling 27,526 shares during the period. Royce & Associates LP owned approximately 1.22% of TrustCo Bank Corp NY worth $7,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TRST. Wilmington Savings Fund Society FSB acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at about $29,000. Versant Capital Management Inc grew 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 purchasing an additional 683 shares during the last quarter. R Squared Ltd acquired a new stake in TrustCo Bank Corp NY in the fourth quarter valued at $91,000. AlphaQuest LLC bought a new position in TrustCo Bank Corp NY during the 4th quarter worth $218,000. Finally, FMR LLC lifted its holdings in TrustCo Bank Corp NY by 225.6% during the 3rd quarter. FMR LLC now owns 7,189 shares of the bank’s stock worth $238,000 after buying 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 Price Performance

Shares of TRST opened at $30.38 on Wednesday. The business has a 50-day moving average of $32.09 and a 200-day moving average of $33.55. 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 has a 1 year low of $25.83 and a 1 year high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 EPS 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.74%. TrustCo Bank Corp NY’s payout ratio is currently 56.03%.

TrustCo Bank Corp NY announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.