Magnus Financial Group LLC Buys Shares of 12,034 TrustCo Bank Corp NY (TRST)
Magnus Financial Group LLC bought a new position in TrustCo Bank Corp NY (NASDAQ:TRST) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,034 shares of the bank’s stock, valued at approximately $83,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in TrustCo Bank Corp NY in the 4th quarter worth about $76,000. Cornell Pochily Investment Advisors Inc. bought a new position in TrustCo Bank Corp NY in the 4th quarter worth about $122,000. Janney Montgomery Scott LLC bought a new position in TrustCo Bank Corp NY in the 3rd quarter worth about $172,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter worth approximately $252,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter worth approximately $462,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Separately, BidaskClub raised shares of TrustCo Bank Corp NY from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd.
TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $45.19 million during the quarter. TrustCo Bank Corp NY had a net margin of 30.88% and a return on equity of 12.94%.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a $0.0681 dividend. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Thursday, February 28th.
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TrustCo Bank Corp NY 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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.
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