Systematic Financial Management LP Has $39.26 Million Stock Position in TrustCo Bank Corp NY $TRST

Systematic Financial Management LP boosted its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,174,628 shares of the bank’s stock after buying an additional 18,803 shares during the period. TrustCo Bank Corp NY comprises 1.0% of Systematic Financial Management LP’s investment portfolio, making the stock its 26th largest holding. Systematic Financial Management LP owned about 6.23% of TrustCo Bank Corp NY worth $39,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 worth $336,000 after buying an additional 468 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of TrustCo Bank Corp NY by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,365 shares of the bank’s stock valued at $915,000 after acquiring an additional 487 shares in the last quarter. State of Alaska Department of Revenue boosted 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 purchasing an additional 769 shares during the period. EntryPoint Capital LLC grew its position in TrustCo Bank Corp NY by 14.4% during the 1st quarter. EntryPoint Capital LLC now owns 7,654 shares of the bank’s stock worth $233,000 after purchasing an additional 964 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in TrustCo Bank Corp NY by 3.4% during the 2nd quarter. Prudential Financial Inc. now owns 32,051 shares of the bank’s stock worth $1,071,000 after purchasing an additional 1,061 shares in the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $42.96 on Wednesday. The company has a market capitalization of $791.50 million, a PE ratio of 14.37 and a beta of 0.65. The company’s 50 day moving average price is $38.33 and its 200 day moving average price is $36.06. TrustCo Bank Corp NY has a 52 week low of $27.18 and a 52 week high of $43.27.

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

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 50.84%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of TrustCo Bank Corp NY in a report on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

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 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.