Globeflex Capital L P Acquires Shares of 37,380 TrustCo Bank Corp NY $TRST

Globeflex Capital L P bought a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,380 shares of the bank’s stock, valued at approximately $2,053,000. Globeflex Capital L P owned approximately 0.21% of TrustCo Bank Corp NY at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of TrustCo Bank Corp NY by 2,435.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock valued at $26,000 after acquiring an additional 755 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of TrustCo Bank Corp NY in the 4th quarter worth $46,000. Godfrey Financial Associates Inc. acquired a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at approximately $56,000. Hantz Financial Services Inc. boosted its position in shares of TrustCo Bank Corp NY by 65.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,445 shares of the bank’s stock worth $60,000 after buying an additional 573 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in TrustCo Bank Corp NY by 48.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,701 shares of the bank’s stock valued at $62,000 after acquiring an additional 555 shares in the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of TrustCo Bank Corp NY in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

TrustCo Bank Corp NY Trading Up 0.7%

NASDAQ:TRST opened at $57.20 on Tuesday. The firm has a market capitalization of $974.00 million, a PE ratio of 15.89 and a beta of 0.62. TrustCo Bank Corp NY has a 1 year low of $34.31 and a 1 year high of $58.97. The firm’s fifty day simple moving average is $55.42 and its 200 day simple moving average is $49.88.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.98 EPS for the quarter. The business had revenue of $51.50 million for the quarter. TrustCo Bank Corp NY had a return on equity of 9.62% and a net margin of 22.76%.

TrustCo Bank Corp NY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, September 4th. TrustCo Bank Corp NY’s payout ratio is presently 44.44%.

About TrustCo Bank Corp NY

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.