The Manufacturers Life Insurance Company Invests $219,000 in TrustCo Bank Corp NY (NASDAQ:TRST)

The Manufacturers Life Insurance Company purchased a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,607 shares of the bank’s stock, valued at approximately $219,000.

Several other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of TrustCo Bank Corp NY by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock worth $8,765,000 after buying an additional 73,250 shares during the period. Public Sector Pension Investment Board grew its position in shares of TrustCo Bank Corp NY by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 41,878 shares of the bank’s stock worth $1,205,000 after buying an additional 2,393 shares during the period. Gabelli Funds LLC grew its position in shares of TrustCo Bank Corp NY by 5.3% during the 2nd quarter. Gabelli Funds LLC now owns 62,605 shares of the bank’s stock worth $1,801,000 after buying an additional 3,150 shares during the period. Sei Investments Co. grew its position in shares of TrustCo Bank Corp NY by 26.0% during the 2nd quarter. Sei Investments Co. now owns 12,111 shares of the bank’s stock worth $348,000 after buying an additional 2,500 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of TrustCo Bank Corp NY during the 2nd quarter worth approximately $290,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $33.80 on Friday. TrustCo Bank Corp NY has a one year low of $23.78 and a one year high of $36.51. The company has a 50 day moving average of $33.19 and a 200-day moving average of $30.38. The stock has a market cap of $642.54 million, a price-to-earnings ratio of 13.05 and a beta of 0.81.

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

TrustCo Bank Corp NY Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 55.60%.

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.