R Squared Ltd Invests $531,000 in TrustCo Bank Corp NY $TRST

R Squared Ltd acquired a new stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 15,901 shares of the bank’s stock, valued at approximately $531,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in TrustCo Bank Corp NY by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank’s stock worth $932,000 after acquiring an additional 436 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TrustCo Bank Corp NY by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock valued at $336,000 after purchasing an additional 468 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in TrustCo Bank Corp NY by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 27,365 shares of the bank’s stock valued at $915,000 after purchasing an additional 487 shares during the last quarter. GAMMA Investing LLC grew its stake in TrustCo Bank Corp NY by 51.4% in the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank’s stock worth $53,000 after buying an additional 592 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in TrustCo Bank Corp NY by 7.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,308 shares of the bank’s stock worth $377,000 after buying an additional 769 shares in the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Performance

TRST stock opened at $36.92 on Friday. The company has a market capitalization of $695.98 million, a PE ratio of 12.35 and a beta of 0.66. TrustCo Bank Corp NY has a one year low of $27.18 and a one year high of $40.96. The company’s 50 day moving average price is $37.69 and its two-hundred day moving average price is $34.05.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Tuesday, October 21st. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. The company had revenue of $47.81 million for the quarter, compared to analyst estimates of $47.27 million. TrustCo Bank Corp NY had a net margin of 20.74% and a return on equity of 8.27%. During the same quarter last year, the firm earned $0.68 EPS.

TrustCo Bank Corp NY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, September 5th. This represents a $1.52 annualized dividend and a yield of 4.1%. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 50.84%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

About TrustCo Bank Corp NY

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.