Gabelli Funds LLC Purchases 37,750 Shares of TrustCo Bank Corp NY $TRST

Gabelli Funds LLC lifted its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 50.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,993 shares of the bank’s stock after purchasing an additional 37,750 shares during the period. Gabelli Funds LLC’s holdings in TrustCo Bank Corp NY were worth $4,670,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. HoldCo Asset Management LP grew its holdings in shares of TrustCo Bank Corp NY by 170.2% in the third quarter. HoldCo Asset Management LP now owns 872,744 shares of the bank’s stock worth $31,681,000 after purchasing an additional 549,729 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of TrustCo Bank Corp NY by 10.0% in the third quarter. American Century Companies Inc. now owns 514,237 shares of the bank’s stock worth $18,667,000 after purchasing an additional 46,881 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TrustCo Bank Corp NY by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 1,300,043 shares of the bank’s stock worth $53,731,000 after purchasing an additional 14,498 shares during the last quarter. UBS Group AG grew its holdings in shares of TrustCo Bank Corp NY by 88.4% in the fourth quarter. UBS Group AG now owns 157,142 shares of the bank’s stock worth $6,495,000 after purchasing an additional 73,718 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of TrustCo Bank Corp NY by 7.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 93,212 shares of the bank’s stock worth $3,384,000 after purchasing an additional 6,397 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Trading Up 2.0%

NASDAQ TRST opened at $50.28 on Thursday. The company’s 50-day moving average price is $45.83 and its 200-day moving average price is $43.89. The stock has a market cap of $878.89 million, a PE ratio of 14.74 and a beta of 0.60. TrustCo Bank Corp NY has a 12 month low of $30.17 and a 12 month high of $50.36.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $0.91 EPS for the quarter. The firm had revenue of $49.55 million for the quarter. TrustCo Bank Corp NY had a net margin of 22.42% and a return on equity of 9.21%.

TrustCo Bank Corp NY Company Profile

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.