Y Intercept Hong Kong Ltd Takes $446,000 Position in TrustCo Bank Corp NY $TRST

Y Intercept Hong Kong Ltd purchased a new stake in TrustCo Bank Corp NY (NASDAQ:TRST) during the first quarter, Holdings Channel reports. The institutional investor purchased 10,184 shares of the bank’s stock, valued at approximately $446,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in TrustCo Bank Corp NY by 1.1% during the fourth 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 during the period. Gabelli Funds LLC lifted its holdings in TrustCo Bank Corp NY by 50.2% during the fourth quarter. Gabelli Funds LLC now owns 112,993 shares of the bank’s stock valued at $4,670,000 after purchasing an additional 37,750 shares in the last quarter. UBS Group AG grew its position in shares of TrustCo Bank Corp NY by 88.4% in the fourth quarter. UBS Group AG now owns 157,142 shares of the bank’s stock valued at $6,495,000 after purchasing an additional 73,718 shares during the period. Hantz Financial Services Inc. grew its position in shares of TrustCo Bank Corp NY by 65.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,445 shares of the bank’s stock valued at $60,000 after purchasing an additional 573 shares during the period. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of TrustCo Bank Corp NY during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, TrustCo Bank Corp NY has an average rating of “Buy”.

TrustCo Bank Corp NY Price Performance

NASDAQ TRST opened at $54.58 on Wednesday. The stock’s 50 day simple moving average is $52.24 and its 200-day simple moving average is $47.07. The company has a market cap of $954.06 million, a PE ratio of 16.01 and a beta of 0.62. TrustCo Bank Corp NY has a 1-year low of $32.62 and a 1-year high of $56.67.

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

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, June 5th. TrustCo Bank Corp NY’s payout ratio is 44.57%.

TrustCo Bank Corp NY Profile

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.