Nisa Investment Advisors LLC Increases Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Nisa Investment Advisors LLC grew its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 39,333.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,915 shares of the bank’s stock after purchasing an additional 5,900 shares during the period. Nisa Investment Advisors LLC’s holdings in TrustCo Bank Corp NY were worth $184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of TrustCo Bank Corp NY by 1.2% in the first quarter. BlackRock Inc. now owns 2,836,175 shares of the bank’s stock valued at $90,558,000 after purchasing an additional 32,718 shares during the last quarter. Vanguard Group Inc. increased its holdings in TrustCo Bank Corp NY by 3.8% during the first quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank’s stock worth $43,173,000 after buying an additional 50,079 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TrustCo Bank Corp NY by 5.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,130,289 shares of the bank’s stock worth $36,101,000 after buying an additional 62,517 shares during the last quarter. State Street Corp increased its holdings in TrustCo Bank Corp NY by 0.5% during the second quarter. State Street Corp now owns 866,340 shares of the bank’s stock worth $25,089,000 after buying an additional 4,418 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in TrustCo Bank Corp NY by 0.9% during the second quarter. Geode Capital Management LLC now owns 383,182 shares of the bank’s stock worth $10,963,000 after buying an additional 3,511 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

NASDAQ TRST opened at $26.93 on Friday. TrustCo Bank Corp NY has a 52-week low of $23.78 and a 52-week high of $32.10. The company has a 50-day simple moving average of $27.32 and a 200 day simple moving average of $28.03. The company has a market capitalization of $512.21 million, a PE ratio of 8.74 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.14). The business had revenue of $63.11 million for the quarter, compared to the consensus estimate of $44.90 million. TrustCo Bank Corp NY had a return on equity of 9.36% and a net margin of 23.98%. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, analysts forecast that TrustCo Bank Corp NY will post 2.54 EPS for the current fiscal year.

TrustCo Bank Corp NY Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.44 dividend on an annualized basis and a yield of 5.35%. TrustCo Bank Corp NY’s dividend payout ratio is presently 46.75%.

Insiders Place Their Bets

In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at $949,111.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Kevin M. Curley acquired 916 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $27.30 per share, for a total transaction of $25,006.80. Following the completion of the transaction, the chief operating officer now owns 34,766 shares of the company’s stock, valued at $949,111.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric W. Schreck acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $28.44 per share, with a total value of $28,440.00. Following the completion of the transaction, the executive vice president now directly owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The disclosure for this purchase can be found here. Insiders acquired 2,879 shares of company stock worth $80,023 over the last quarter. 3.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd.

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.