Prudential Financial Inc. Buys 10,200 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Prudential Financial Inc. lifted its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 35.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 38,960 shares of the bank’s stock after buying an additional 10,200 shares during the period. Prudential Financial Inc.’s holdings in TrustCo Bank Corp NY were worth $1,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in shares of TrustCo Bank Corp NY by 9.5% in the fourth quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock worth $13,581,000 after purchasing an additional 35,343 shares during the last quarter. JPMorgan Chase & Co. boosted its position in TrustCo Bank Corp NY by 74.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank’s stock valued at $2,088,000 after buying an additional 26,881 shares during the period. Proficio Capital Partners LLC bought a new stake in TrustCo Bank Corp NY in the 4th quarter worth $746,000. Barclays PLC increased its position in shares of TrustCo Bank Corp NY by 134.4% in the third quarter. Barclays PLC now owns 37,729 shares of the bank’s stock valued at $1,247,000 after acquiring an additional 21,633 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TrustCo Bank Corp NY by 105.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank’s stock valued at $1,232,000 after acquiring an additional 18,954 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Price Performance

NASDAQ TRST opened at $28.36 on Friday. TrustCo Bank Corp NY has a 1 year low of $25.83 and a 1 year high of $38.89. The stock has a market capitalization of $539.41 million, a PE ratio of 11.04 and a beta of 0.71. The business’s 50-day moving average is $31.72 and its 200 day moving average is $33.28.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a $0.36 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.44 annualized dividend and a yield of 5.08%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 56.03%.

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.