GSA Capital Partners LLP Cuts Stake in TrustCo Bank Corp NY $TRST

GSA Capital Partners LLP lessened its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 24.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,726 shares of the bank’s stock after selling 13,791 shares during the period. GSA Capital Partners LLP’s holdings in TrustCo Bank Corp NY were worth $1,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its position in shares of TrustCo Bank Corp NY by 62.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 258,209 shares of the bank’s stock worth $8,629,000 after purchasing an additional 99,411 shares in the last quarter. HoldCo Asset Management LP acquired a new stake in TrustCo Bank Corp NY during the 2nd quarter worth $10,795,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of TrustCo Bank Corp NY during the second quarter worth $402,000. Geode Capital Management LLC grew its holdings in shares of TrustCo Bank Corp NY by 3.5% during the second quarter. Geode Capital Management LLC now owns 510,547 shares of the bank’s stock worth $17,065,000 after buying an additional 17,358 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of TrustCo Bank Corp NY by 1,764.0% in the second quarter. Osaic Holdings Inc. now owns 62,276 shares of the bank’s stock valued at $1,904,000 after buying an additional 58,935 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, TrustCo Bank Corp NY currently has an average rating of “Buy”.

TrustCo Bank Corp NY Stock Up 0.5%

NASDAQ TRST opened at $45.95 on Wednesday. The business’s fifty day simple moving average is $43.50 and its 200-day simple moving average is $40.11. The firm has a market cap of $846.40 million, a PE ratio of 14.14 and a beta of 0.62. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $48.45.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. TrustCo Bank Corp NY had a net margin of 21.96% and a return on equity of 8.86%. The firm had revenue of $48.17 million during the quarter, compared to analyst estimates of $48.69 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share.

TrustCo Bank Corp NY announced that its board has approved a share buyback plan on Friday, December 19th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 46.77%.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.