Arrowstreet Capital Limited Partnership Raises Stake in TrustCo Bank Corp NY $TRST

Arrowstreet Capital Limited Partnership grew its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 62.6% during the second quarter, HoldingsChannel reports. The firm owned 258,209 shares of the bank’s stock after purchasing an additional 99,411 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in TrustCo Bank Corp NY were worth $8,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in shares of TrustCo Bank Corp NY by 3.4% in the 2nd quarter. Prudential Financial Inc. now owns 32,051 shares of the bank’s stock worth $1,071,000 after acquiring an additional 1,061 shares during the period. American Century Companies Inc. raised its holdings in TrustCo Bank Corp NY by 6.0% during the second quarter. American Century Companies Inc. now owns 467,356 shares of the bank’s stock worth $15,619,000 after purchasing an additional 26,482 shares in the last quarter. Legal & General Group Plc lifted its position in TrustCo Bank Corp NY by 4.7% in the second quarter. Legal & General Group Plc now owns 52,031 shares of the bank’s stock valued at $1,739,000 after purchasing an additional 2,337 shares during the period. Trustco Bank Corp N Y boosted its holdings in TrustCo Bank Corp NY by 5.4% in the 2nd quarter. Trustco Bank Corp N Y now owns 116,587 shares of the bank’s stock valued at $3,896,000 after purchasing an additional 5,998 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in TrustCo Bank Corp NY by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 510,547 shares of the bank’s stock worth $17,065,000 after purchasing an additional 17,358 shares during the period. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, TrustCo Bank Corp NY currently has an average rating of “Buy”.

TrustCo Bank Corp NY Trading Up 2.7%

Shares of TRST stock opened at $44.76 on Thursday. The company has a market capitalization of $824.48 million, a price-to-earnings ratio of 14.97 and a beta of 0.65. TrustCo Bank Corp NY has a twelve month low of $27.18 and a twelve month high of $45.13. The firm has a 50-day moving average price of $39.09 and a 200 day moving average price of $36.53.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. TrustCo Bank Corp NY had a return on equity of 8.27% and a net margin of 20.74%.The company had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. During the same quarter in the prior year, the company posted $0.68 EPS.

TrustCo Bank Corp NY Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be issued a $0.38 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 50.84%.

About TrustCo Bank Corp NY

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.