Systematic Financial Management LP Has $38.54 Million Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Systematic Financial Management LP boosted its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,156,983 shares of the bank’s stock after purchasing an additional 47,422 shares during the period. TrustCo Bank Corp NY comprises 1.0% of Systematic Financial Management LP’s holdings, making the stock its 26th largest position. Systematic Financial Management LP owned approximately 6.09% of TrustCo Bank Corp NY worth $38,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of TrustCo Bank Corp NY by 277.3% during the fourth quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock worth $8,278,000 after buying an additional 182,634 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TrustCo Bank Corp NY by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank’s stock worth $3,564,000 after buying an additional 43,880 shares during the period. American Century Companies Inc. raised its position in shares of TrustCo Bank Corp NY by 9.5% during the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after buying an additional 35,343 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in TrustCo Bank Corp NY in the 4th quarter worth $746,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of TrustCo Bank Corp NY by 105.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,987 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 18,954 shares in the last quarter. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Down 0.7%

Shares of TrustCo Bank Corp NY stock opened at $32.24 on Friday. The company has a market cap of $613.20 million, a price-to-earnings ratio of 12.54 and a beta of 0.64. The company’s 50 day moving average is $30.15 and its 200 day moving average is $32.62. TrustCo Bank Corp NY has a twelve month low of $26.14 and a twelve month high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $45.35 million during the quarter, compared to analyst estimates 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 declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 18th that allows the company to repurchase 0 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.47%. TrustCo Bank Corp NY’s payout ratio is currently 53.73%.

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.