UBS Group AG Raises Stock Position in TrustCo Bank Corp NY $TRST

UBS Group AG increased its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 88.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 157,142 shares of the bank’s stock after acquiring an additional 73,718 shares during the quarter. UBS Group AG’s holdings in TrustCo Bank Corp NY were worth $6,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HoldCo Asset Management LP increased its holdings in TrustCo Bank Corp NY by 170.2% in the 3rd quarter. HoldCo Asset Management LP now owns 872,744 shares of the bank’s stock worth $31,681,000 after acquiring an additional 549,729 shares in the last quarter. American Century Companies Inc. increased its holdings in TrustCo Bank Corp NY by 10.0% in the 3rd quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock worth $18,667,000 after acquiring an additional 46,881 shares in the last quarter. Vanguard Group Inc. increased its holdings in TrustCo Bank Corp NY by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,300,043 shares of the bank’s stock worth $53,731,000 after acquiring an additional 14,498 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in TrustCo Bank Corp NY by 48.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock worth $62,000 after acquiring an additional 555 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in TrustCo Bank Corp NY by 2,435.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after acquiring an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST opened at $49.31 on Wednesday. The firm has a market cap of $861.94 million, a PE ratio of 14.46 and a beta of 0.60. The firm has a fifty day moving average of $45.70 and a 200 day moving average of $43.80. TrustCo Bank Corp NY has a one year low of $30.17 and a one year high of $49.56.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, April 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%. The business had revenue of $49.55 million during the quarter.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.