Graney & King LLC Invests $142,000 in TrustCo Bank Corp NY (NASDAQ:TRST)

Graney & King LLC acquired a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,258 shares of the bank’s stock, valued at approximately $142,000.

Several other large investors have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at about $596,000. Charles Schwab Investment Management Inc. boosted its holdings in TrustCo Bank Corp NY by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 170,371 shares of the bank’s stock valued at $5,634,000 after acquiring an additional 5,454 shares during the last quarter. Cerity Partners LLC increased its position in TrustCo Bank Corp NY by 50.0% during the 3rd quarter. Cerity Partners LLC now owns 14,384 shares of the bank’s stock valued at $476,000 after purchasing an additional 4,794 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in TrustCo Bank Corp NY during the 3rd quarter valued at approximately $271,000. Finally, FMR LLC raised 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 purchasing an additional 4,981 shares during the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $30.76 on Wednesday. The business’s 50-day moving average is $32.04 and its 200-day moving average is $33.44. TrustCo Bank Corp NY has a 1 year low of $25.83 and a 1 year high of $38.89. The company has a market capitalization of $585.06 million, a price-to-earnings ratio of 11.97 and a beta of 0.80.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data 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 Announces Dividend

The firm 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, March 7th. TrustCo Bank Corp NY’s payout ratio is 56.03%.

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