Acadian Asset Management LLC Boosts Stock Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Acadian Asset Management LLC grew its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 270.4% during the second quarter, Holdings Channel reports. The institutional investor owned 88,701 shares of the bank’s stock after buying an additional 64,751 shares during the period. Acadian Asset Management LLC’s holdings in TrustCo Bank Corp NY were worth $2,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRST. Hsbc Holdings PLC purchased a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at about $2,672,000. Dimensional Fund Advisors LP lifted its holdings in TrustCo Bank Corp NY by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock worth $36,836,000 after purchasing an additional 33,892 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in TrustCo Bank Corp NY by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock worth $6,998,000 after purchasing an additional 19,316 shares in the last quarter. Boston Partners bought a new position in TrustCo Bank Corp NY in the 1st quarter worth approximately $525,000. Finally, Vanguard Group Inc. boosted its stake in TrustCo Bank Corp NY by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock worth $37,335,000 after purchasing an additional 14,183 shares during the period. 68.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research note on Monday, June 17th.

TrustCo Bank Corp NY Price Performance

TRST stock opened at $33.20 on Friday. TrustCo Bank Corp NY has a 1-year low of $23.78 and a 1-year high of $36.51. The company has a market capitalization of $631.13 million, a price-to-earnings ratio of 11.90 and a beta of 0.82. The business has a 50 day simple moving average of $32.99 and a two-hundred day simple moving average of $29.40.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. TrustCo Bank Corp NY had a return on equity of 7.65% and a net margin of 19.22%. The business had revenue of $66.24 million during the quarter, compared to the consensus estimate of $40.94 million. During the same period in the prior year, the company posted $0.86 EPS.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.34%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 51.61%.

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.