KLP Kapitalforvaltning AS Purchases Shares of 3,560 TrustCo Bank Corp NY (NASDAQ:TRST)

KLP Kapitalforvaltning AS acquired a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the fourth quarter, Holdings Channel reports. The fund acquired 3,560 shares of the bank’s stock, valued at approximately $120,000.

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

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST opened at $29.13 on Thursday. TrustCo Bank Corp NY has a 52-week low of $25.83 and a 52-week high of $38.89. The business has a fifty day moving average of $31.34 and a two-hundred day moving average of $33.09. The stock has a market cap of $554.05 million, a PE ratio of 11.33 and a beta of 0.71.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results 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 announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.94%. TrustCo Bank Corp NY’s dividend payout ratio is 56.03%.

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.