Lazard Asset Management LLC Increases Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

Lazard Asset Management LLC raised its position in TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) by 109.8% during the second quarter, HoldingsChannel reports. The firm owned 2,237 shares of the bank’s stock after purchasing an additional 1,171 shares during the period. Lazard Asset Management LLC’s holdings in TrustCo Bank Corp NY were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRST. Martingale Asset Management L P increased its stake in shares of TrustCo Bank Corp NY by 8.2% in the 1st quarter. Martingale Asset Management L P now owns 21,208 shares of the bank’s stock worth $678,000 after acquiring an additional 1,600 shares during the last quarter. Systematic Financial Management LP grew its position in TrustCo Bank Corp NY by 10.0% in the 1st quarter. Systematic Financial Management LP now owns 753,274 shares of the bank’s stock valued at $24,052,000 after acquiring an additional 68,324 shares in the last quarter. State of Tennessee Treasury Department grew its position in TrustCo Bank Corp NY by 17.9% in the 1st quarter. State of Tennessee Treasury Department now owns 7,322 shares of the bank’s stock valued at $234,000 after acquiring an additional 1,110 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in TrustCo Bank Corp NY in the 2nd quarter valued at about $447,000. Finally, Captrust Financial Advisors grew its position in TrustCo Bank Corp NY by 104.4% in the 1st quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock valued at $36,000 after acquiring an additional 569 shares in the last quarter. Hedge funds and other institutional investors own 65.70% of the company’s stock.

Wall Street Analyst Weigh In

TRST has been the subject of several research reports. StockNews.com downgraded TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. TheStreet raised TrustCo Bank Corp NY from a “c+” rating to a “b-” rating in a research report on Thursday, July 28th.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $38.80 on Friday. The stock has a 50-day simple moving average of $35.06 and a 200-day simple moving average of $33.24. The stock has a market capitalization of $739.14 million, a PE ratio of 10.54 and a beta of 0.94. TrustCo Bank Corp NY has a 1 year low of $29.50 and a 1 year high of $39.36.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. TrustCo Bank Corp NY had a return on equity of 11.87% and a net margin of 36.13%. During the same period in the previous year, the firm posted $0.87 earnings per share. Analysts predict that TrustCo Bank Corp NY will post 3.83 EPS for the current year.

TrustCo Bank Corp NY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, December 1st. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 38.04%.

TrustCo Bank Corp NY Company Profile

(Get Rating)

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 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.

See Also

Want to see what other hedge funds are holding TRST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating).

Institutional Ownership by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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