Brandywine Global Investment Management LLC Reduces Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Brandywine Global Investment Management LLC reduced its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 67.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,032 shares of the bank’s stock after selling 82,003 shares during the period. Brandywine Global Investment Management LLC owned about 0.21% of TrustCo Bank Corp NY worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRST. Versant Capital Management Inc grew its position in shares of TrustCo Bank Corp NY by 263.7% during the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock valued at $31,000 after acquiring an additional 683 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in TrustCo Bank Corp NY during the fourth quarter valued at about $29,000. LPL Financial LLC increased its position in TrustCo Bank Corp NY by 18.0% in the fourth quarter. LPL Financial LLC now owns 10,851 shares of the bank’s stock worth $361,000 after buying an additional 1,655 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of TrustCo Bank Corp NY by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank’s stock worth $3,070,000 after buying an additional 2,569 shares during the period. Finally, R Squared Ltd purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at about $91,000. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Trading Up 0.3 %

TrustCo Bank Corp NY stock opened at $30.70 on Thursday. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $38.89. The firm has a market capitalization of $583.91 million, a price-to-earnings ratio of 11.95 and a beta of 0.80. The firm has a 50 day moving average of $31.86 and a 200 day moving average of $33.35.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share (EPS) 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a $0.36 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 4.69%. TrustCo Bank Corp NY’s payout ratio is 56.03%.

TrustCo Bank Corp NY announced that its board has initiated a stock repurchase program on Tuesday, March 18th that allows the company to buyback 0 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.