Russell Investments Group Ltd. Has $31,000 Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Russell Investments Group Ltd. lessened its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 47.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,007 shares of the bank’s stock after selling 909 shares during the period. Russell Investments Group Ltd.’s holdings in TrustCo Bank Corp NY were worth $31,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in TrustCo Bank Corp NY in the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC boosted its position in shares of TrustCo Bank Corp NY by 39,333.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock valued at $184,000 after buying an additional 5,900 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of TrustCo Bank Corp NY by 14.3% during the fourth quarter. New York State Common Retirement Fund now owns 7,295 shares of the bank’s stock valued at $227,000 after buying an additional 910 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of TrustCo Bank Corp NY during the fourth quarter valued at approximately $295,000. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $301,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

TrustCo Bank Corp NY Stock Up 0.5 %

Shares of NASDAQ:TRST opened at $28.16 on Friday. The stock has a market cap of $535.60 million, a price-to-earnings ratio of 10.09 and a beta of 0.84. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10. The business’s 50 day moving average is $27.54 and its 200 day moving average is $28.30.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, April 22nd. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $41.42 million for the quarter, compared to analysts’ expectations of $43.16 million. TrustCo Bank Corp NY had a return on equity of 8.35% and a net margin of 21.17%. As a group, equities research analysts expect that TrustCo Bank Corp NY will post 2.38 earnings per share for the current year.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.11%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is currently 51.61%.

TrustCo Bank Corp NY Company 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.