TrustCo Bank Corp NY (TRST) Stake Held by State of Tennessee Treasury Department
State of Tennessee Treasury Department continued to hold its position in TrustCo Bank Corp NY (NASDAQ:TRST) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,135 shares of the bank’s stock at the close of the 2nd quarter. State of Tennessee Treasury Department owned about 0.09% of TrustCo Bank Corp NY worth $691,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Virginia Retirement Systems ET AL purchased a new stake in shares of TrustCo Bank Corp NY in the first quarter worth about $100,000. PNC Financial Services Group Inc. boosted its position 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 buying an additional 711 shares during the period. Brown Advisory Securities LLC boosted its position 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 buying an additional 1,015 shares during the period. Essex Financial Services Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth about $108,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of TrustCo Bank Corp NY by 229.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,281 shares of the bank’s stock worth $136,000 after buying an additional 12,042 shares during the period. 57.78% of the stock is owned by hedge funds and other institutional investors.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 20,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $8.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 90,651 shares of the company’s stock, valued at $725,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.
Separately, BidaskClub downgraded TrustCo Bank Corp NY from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th.
Shares of TrustCo Bank Corp NY (NASDAQ TRST) opened at 8.90 on Friday. The stock has a market cap of $855.30 million, a P/E ratio of 19.06 and a beta of 1.18. The stock has a 50 day moving average price of $7.89 and a 200 day moving average price of $7.83. TrustCo Bank Corp NY has a 12 month low of $6.60 and a 12 month high of $9.10.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 period in the previous year, the company earned $0.11 earnings per share. Equities analysts anticipate that TrustCo Bank Corp NY will post $0.49 EPS for the current fiscal year.
The firm 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. This represents a $0.26 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, August 30th. TrustCo Bank Corp NY’s payout ratio is 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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