Intech Investment Management LLC Cuts Stake in TrustCo Bank Corp NY $TRST

Intech Investment Management LLC lessened its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 11.6% in the 2nd quarter, Holdings Channel reports. The firm owned 46,553 shares of the bank’s stock after selling 6,087 shares during the period. Intech Investment Management LLC’s holdings in TrustCo Bank Corp NY were worth $1,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRST. Vanguard Group Inc. boosted its holdings in TrustCo Bank Corp NY by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,264,934 shares of the bank’s stock worth $38,555,000 after buying an additional 37,096 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TrustCo Bank Corp NY by 3.5% in the second quarter. Geode Capital Management LLC now owns 510,547 shares of the bank’s stock valued at $17,065,000 after acquiring an additional 17,358 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of TrustCo Bank Corp NY by 8.1% in the first quarter. American Century Companies Inc. now owns 440,874 shares of the bank’s stock worth $13,438,000 after acquiring an additional 33,171 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of TrustCo Bank Corp NY by 32.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 312,582 shares of the bank’s stock worth $9,527,000 after purchasing an additional 76,660 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in TrustCo Bank Corp NY by 4.9% in the 1st quarter. AQR Capital Management LLC now owns 222,642 shares of the bank’s stock valued at $6,786,000 after purchasing an additional 10,431 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Price Performance

TRST stock opened at $41.54 on Friday. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $41.75. The firm has a market capitalization of $765.33 million, a PE ratio of 13.89 and a beta of 0.68. The business has a 50 day simple moving average of $37.86 and a 200-day simple moving average of $35.52.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. TrustCo Bank Corp NY had a return on equity of 8.27% and a net margin of 20.74%.During the same quarter in the previous year, the company posted $0.68 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, December 5th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 50.84%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

TrustCo Bank Corp NY Profile

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.