Russell Investments Group Ltd. lowered its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,826 shares of the bank’s stock after selling 10,610 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of TrustCo Bank Corp NY worth $1,510,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. First Quadrant L P CA bought a new stake in shares of TrustCo Bank Corp NY in the 2nd quarter valued at about $155,000. Aperio Group LLC grew its position in shares of TrustCo Bank Corp NY by 40.5% in the 2nd quarter. Aperio Group LLC now owns 105,415 shares of the bank’s stock worth $817,000 after buying an additional 30,401 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of TrustCo Bank Corp NY by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 39,100 shares of the bank’s stock worth $303,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue grew its position in TrustCo Bank Corp NY by 79.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,950 shares of the bank’s stock worth $146,000 after purchasing an additional 8,370 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in TrustCo Bank Corp NY by 132.8% during the 1st quarter. HighTower Advisors LLC now owns 41,214 shares of the bank’s stock worth $322,000 after purchasing an additional 23,514 shares during the last quarter. Institutional investors and hedge funds own 57.78% of the company’s stock.
TrustCo Bank Corp NY (NASDAQ:TRST) remained flat at $8.00 during trading on Friday. 232,844 shares of the company’s stock traded hands. The stock has a market cap of $768.81 million, a price-to-earnings ratio of 17.13 and a beta of 1.18. TrustCo Bank Corp NY has a 12 month low of $6.60 and a 12 month high of $9.00. The stock’s 50-day moving average price is $7.90 and its 200-day moving average price is $7.84.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $43.05 million for the quarter. TrustCo Bank Corp NY had a net margin of 24.58% and a return on equity of 10.24%. During the same quarter last year, the business earned $0.11 earnings per share. Equities research analysts expect that TrustCo Bank Corp NY will post $0.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.0656 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.26 annualized dividend and a dividend yield of 3.29%. TrustCo Bank Corp NY’s payout ratio is currently 56.52%.
Separately, BidaskClub raised shares of TrustCo Bank Corp NY from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
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In other news, Director William D. Powers sold 20,000 shares of TrustCo Bank Corp NY stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now owns 90,651 shares of the company’s stock, valued at approximately $725,208. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.
About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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