Public Sector Pension investment Board decreased its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 28.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,478 shares of the bank’s stock after selling 19,800 shares during the quarter. Public Sector Pension investment Board owned 0.05% of TrustCo Bank Corp NY worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in TrustCo Bank Corp NY by 0.3% in the 2nd quarter. BlackRock Inc. now owns 11,714,992 shares of the bank’s stock worth $90,792,000 after acquiring an additional 40,466 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TrustCo Bank Corp NY by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,190,254 shares of the bank’s stock worth $40,744,000 after acquiring an additional 221,187 shares during the last quarter. Vanguard Group Inc. increased its stake in TrustCo Bank Corp NY by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 5,185,647 shares of the bank’s stock worth $40,708,000 after acquiring an additional 291,144 shares during the last quarter. State Street Corp increased its stake in TrustCo Bank Corp NY by 0.8% in the 1st quarter. State Street Corp now owns 2,219,969 shares of the bank’s stock worth $17,430,000 after acquiring an additional 17,328 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in TrustCo Bank Corp NY by 11.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,452,245 shares of the bank’s stock worth $11,399,000 after acquiring an additional 154,057 shares during the last quarter. 57.78% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded TrustCo Bank Corp NY from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
In related news, Director William D. Powers sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $8.00, for a total value of $160,000.00. Following the completion of the sale, the director now owns 90,651 shares of the company’s stock, valued at $725,208. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.
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TrustCo Bank Corp NY (NASDAQ TRST) opened at 9.15 on Thursday. The stock has a market cap of $879.32 million, a PE ratio of 19.59 and a beta of 1.20. The stock has a 50 day moving average price of $8.33 and a 200-day moving average price of $7.94. TrustCo Bank Corp NY has a one year low of $6.60 and a one year high of $9.25.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. TrustCo Bank Corp NY had a return on equity of 10.24% and a net margin of 24.58%. The firm had revenue of $43.05 million during the quarter. During the same period in the prior year, the business posted $0.11 EPS. Equities research analysts expect that TrustCo Bank Corp NY will post $0.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were issued a $0.0656 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.26 annualized dividend and a dividend yield of 2.87%. TrustCo Bank Corp NY’s dividend payout ratio is presently 56.52%.
TrustCo Bank Corp NY Company Profile
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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