Bank of America Corp DE raised its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 55.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,878 shares of the bank’s stock after buying an additional 71,630 shares during the period. Bank of America Corp DE’s holdings in TrustCo Bank Corp NY were worth $1,584,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TRST. PNC Financial Services Group Inc. increased its position in TrustCo Bank Corp NY by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,740 shares of the bank’s stock valued at $100,000 after buying an additional 711 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in TrustCo Bank Corp NY during the first quarter valued at about $100,000. Denver Investment Advisors LLC acquired a new position in TrustCo Bank Corp NY during the first quarter valued at about $101,000. Hartford Investment Management Co. acquired a new position in TrustCo Bank Corp NY during the first quarter valued at about $102,000. Finally, Brown Advisory Securities LLC increased its position in TrustCo Bank Corp NY by 8.4% in the first quarter. Brown Advisory Securities LLC now owns 13,135 shares of the bank’s stock valued at $103,000 after buying an additional 1,015 shares during the last quarter. 57.17% of the stock is owned by hedge funds and other institutional investors.
TrustCo Bank Corp NY (NASDAQ:TRST) traded up 0.321% during midday trading on Wednesday, hitting $7.825. 47,904 shares of the stock traded hands. TrustCo Bank Corp NY has a 52 week low of $6.60 and a 52 week high of $9.00. The company has a market capitalization of $751.99 million, a price-to-earnings ratio of 16.756 and a beta of 1.17. The stock’s 50-day moving average price is $7.88 and its 200 day moving average price is $7.92.
TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The firm had revenue of $43.05 million during 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 in the previous year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that TrustCo Bank Corp NY will post $0.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.0656 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.37%. TrustCo Bank Corp NY’s payout ratio is 56.52%.
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Separately, BidaskClub downgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “strong sell” rating in a research note on Monday.
In other news, Director William D. Powers sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were 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 directly owns 90,651 shares in the company, valued at approximately $725,208. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
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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