Trustco Bank Corp N Y Has $8.22 Million Position in TrustCo Bank Corp NY (TRST)
Trustco Bank Corp N Y increased its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 0.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,060,170 shares of the bank’s stock after acquiring an additional 260 shares during the quarter. TrustCo Bank Corp NY comprises 8.1% of Trustco Bank Corp N Y’s holdings, making the stock its 2nd largest holding. Trustco Bank Corp N Y owned about 1.10% of TrustCo Bank Corp NY worth $8,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Virginia Retirement Systems ET AL acquired a new position in shares of TrustCo Bank Corp NY in the first quarter worth approximately $100,000. PNC Financial Services Group Inc. lifted its stake in shares of 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 worth $100,000 after acquiring an additional 711 shares during the period. Denver Investment Advisors LLC acquired a new position in shares of TrustCo Bank Corp NY in the first quarter worth approximately $101,000. Brown Advisory Securities LLC lifted its stake in shares of 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 worth $103,000 after acquiring an additional 1,015 shares during the period. Finally, Essex Financial Services Inc. acquired a new position in shares of TrustCo Bank Corp NY in the second quarter worth approximately $108,000. 57.78% of the stock is currently owned by institutional investors.
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Separately, BidaskClub raised TrustCo Bank Corp NY from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.
TrustCo Bank Corp NY (TRST) traded up 1.32% during trading on Friday, hitting $7.65. The company had a trading volume of 209,183 shares. TrustCo Bank Corp NY has a 1-year low of $6.60 and a 1-year high of $9.00. The company’s 50 day moving average price is $7.92 and its 200-day moving average price is $7.86. The stock has a market capitalization of $735.17 million, a price-to-earnings ratio of 16.38 and a beta of 1.18.
TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $43.05 million during the quarter. TrustCo Bank Corp NY had a return on equity of 10.24% and a net margin of 24.58%. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, 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. Investors of record on Friday, September 1st will be issued a dividend of $0.0656 per share. This represents a $0.26 annualized dividend and a yield of 3.43%. The ex-dividend date is Wednesday, August 30th. TrustCo Bank Corp NY’s dividend payout ratio is presently 56.52%.
In related news, Director William D. Powers sold 20,000 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
TrustCo Bank Corp NY 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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