EntryPoint Capital LLC Buys New Position in TrustCo Bank Corp NY (NASDAQ:TRST)

EntryPoint Capital LLC purchased a new position in TrustCo Bank Corp NY (NASDAQ:TRST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,690 shares of the bank’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Systematic Financial Management LP raised its holdings in TrustCo Bank Corp NY by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock worth $36,693,000 after purchasing an additional 161,001 shares during the period. Geode Capital Management LLC raised its stake in shares of TrustCo Bank Corp NY by 1.4% in the third quarter. Geode Capital Management LLC now owns 442,783 shares of the bank’s stock worth $14,646,000 after buying an additional 6,249 shares during the period. American Century Companies Inc. lifted 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. Verition Fund Management LLC lifted its position in shares of TrustCo Bank Corp NY by 35.2% during the 3rd quarter. Verition Fund Management LLC now owns 290,208 shares of the bank’s stock valued at $9,597,000 after buying an additional 75,594 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank’s stock worth $5,904,000 after acquiring an additional 6,867 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Down 1.5 %

NASDAQ TRST opened at $30.50 on Friday. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The stock has a market cap of $580.11 million, a price-to-earnings ratio of 11.87 and a beta of 0.80. The company’s 50 day moving average is $31.95 and its two-hundred day moving average is $33.39.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 56.03%.

TrustCo Bank Corp NY Company 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.