Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,800 shares of the bank’s stock after buying an additional 8,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of TrustCo Bank Corp NY worth $1,313,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of TrustCo Bank Corp NY by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,836,175 shares of the bank’s stock worth $90,558,000 after purchasing an additional 32,718 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TrustCo Bank Corp NY by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank’s stock worth $43,173,000 after purchasing an additional 50,079 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TrustCo Bank Corp NY by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,042,983 shares of the bank’s stock worth $32,770,000 after purchasing an additional 47,053 shares in the last quarter. State Street Corp increased its stake in shares of TrustCo Bank Corp NY by 1.2% in the 2nd quarter. State Street Corp now owns 721,480 shares of the bank’s stock worth $22,499,000 after purchasing an additional 8,517 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of TrustCo Bank Corp NY by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 674,773 shares of the bank’s stock worth $20,810,000 after purchasing an additional 2,704 shares in the last quarter. 65.30% of the stock is currently owned by hedge funds and other institutional investors.
TrustCo Bank Corp NY Stock Performance
Shares of TrustCo Bank Corp NY stock opened at $36.87 on Monday. The company has a market capitalization of $702.37 million, a P/E ratio of 9.38 and a beta of 0.93. The company has a fifty day moving average of $37.04 and a 200 day moving average of $35.94. TrustCo Bank Corp NY has a fifty-two week low of $29.50 and a fifty-two week high of $39.36.
TrustCo Bank Corp NY Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Thursday, March 2nd. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 36.64%.
Analyst Ratings Changes
Several research firms have recently commented on TRST. StockNews.com lowered TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Piper Sandler downgraded shares of TrustCo Bank Corp NY from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $39.00 to $36.00 in a report on Wednesday, January 25th.
Insider Buying and Selling at TrustCo Bank Corp NY
In related news, General Counsel Michael James Hall acquired 1,221 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was acquired at an average price of $33.11 per share, with a total value of $40,427.31. Following the acquisition, the general counsel now directly owns 4,972 shares of the company’s stock, valued at $164,622.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Michael James Hall acquired 1,221 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was acquired at an average price of $33.11 per share, with a total value of $40,427.31. Following the acquisition, the general counsel now directly owns 4,972 shares of the company’s stock, valued at $164,622.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimberly Adams Russell acquired 1,100 shares of the company’s stock in a transaction on Tuesday, December 6th. The shares were bought at an average cost of $37.88 per share, with a total value of $41,668.00. Following the acquisition, the director now directly owns 4,700 shares in the company, valued at $178,036. The disclosure for this purchase can be found here. Insiders purchased 5,229 shares of company stock valued at $178,975 in the last 90 days. Insiders own 3.10% of the company’s stock.
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, partnerships, and corporations. It 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.
Read More
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