7,408 Shares in TrustCo Bank Corp NY (NASDAQ:TRST) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in TrustCo Bank Corp NY (NASDAQ:TRST) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,408 shares of the bank’s stock, valued at approximately $247,000.

A number of other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter worth about $29,000. LPL Financial LLC increased its holdings in shares of TrustCo Bank Corp NY by 18.0% in the 4th quarter. LPL Financial LLC now owns 10,851 shares of the bank’s stock worth $361,000 after acquiring an additional 1,655 shares during the period. Wells Fargo & Company MN increased its holdings in shares of TrustCo Bank Corp NY by 28.5% in the 4th quarter. Wells Fargo & Company MN now owns 11,464 shares of the bank’s stock worth $382,000 after acquiring an additional 2,541 shares during the period. Principal Financial Group Inc. increased its holdings in shares of TrustCo Bank Corp NY by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank’s stock worth $3,070,000 after acquiring an additional 2,569 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter worth about $91,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Down 0.6%

TRST stock opened at $31.40 on Monday. TrustCo Bank Corp NY has a fifty-two week low of $26.14 and a fifty-two week high of $38.89. The firm’s 50-day simple moving average is $29.99 and its 200 day simple moving average is $32.64. The stock has a market cap of $597.23 million, a PE ratio of 12.22 and a beta of 0.64.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, April 21st. The bank reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. The firm had revenue of $45.35 million for the quarter, compared to analysts’ expectations of $44.99 million. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 annualized dividend and a yield of 4.59%. TrustCo Bank Corp NY’s payout ratio is 53.73%.

TrustCo Bank Corp NY declared that its board has approved a stock buyback 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. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.