Public Sector Pension Investment Board Buys 2,393 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Public Sector Pension Investment Board boosted its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 6.1% during the 2nd quarter, Holdings Channel reports. The firm owned 41,878 shares of the bank’s stock after buying an additional 2,393 shares during the quarter. Public Sector Pension Investment Board’s holdings in TrustCo Bank Corp NY were worth $1,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in shares of TrustCo Bank Corp NY in the fourth quarter worth about $2,672,000. Acadian Asset Management LLC purchased a new position in TrustCo Bank Corp NY during the 1st quarter valued at approximately $672,000. Boston Partners bought a new stake in TrustCo Bank Corp NY in the 1st quarter worth approximately $525,000. Bank of New York Mellon Corp raised its holdings in shares of TrustCo Bank Corp NY by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock worth $6,998,000 after acquiring an additional 19,316 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of TrustCo Bank Corp NY by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock valued at $37,335,000 after acquiring an additional 14,183 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TrustCo Bank Corp NY Trading Down 2.3 %

Shares of NASDAQ:TRST opened at $32.32 on Wednesday. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $36.51. The company has a 50-day moving average price of $33.45 and a 200 day moving average price of $29.93. The company has a market cap of $614.40 million, a price-to-earnings ratio of 11.58 and a beta of 0.82.

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

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 51.61%.

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.