TrustCo Bank Corp NY (TRST) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. lessened its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 26.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,800 shares of the bank’s stock after selling 30,200 shares during the period. Bessemer Group Inc.’s holdings in TrustCo Bank Corp NY were worth $704,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TRST. BlackRock Inc. increased its holdings in TrustCo Bank Corp NY by 6.7% during the second quarter. BlackRock Inc. now owns 13,321,419 shares of the bank’s stock worth $118,561,000 after buying an additional 833,956 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TrustCo Bank Corp NY by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,673,104 shares of the bank’s stock worth $50,491,000 after buying an additional 123,439 shares during the last quarter. WBI Investments Inc. purchased a new stake in TrustCo Bank Corp NY during the second quarter worth about $950,000. Northern Trust Corp increased its holdings in TrustCo Bank Corp NY by 7.5% during the second quarter. Northern Trust Corp now owns 1,520,861 shares of the bank’s stock worth $13,535,000 after buying an additional 105,579 shares during the last quarter. Finally, Systematic Financial Management LP increased its holdings in TrustCo Bank Corp NY by 10.6% during the second quarter. Systematic Financial Management LP now owns 1,031,934 shares of the bank’s stock worth $9,184,000 after buying an additional 99,239 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.
NASDAQ TRST opened at $7.66 on Wednesday. TrustCo Bank Corp NY has a 52-week low of $7.26 and a 52-week high of $9.70. The stock has a market cap of $756.84 million, a P/E ratio of 13.05 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be given a dividend of $0.0681 per share. This represents a $0.27 dividend on an annualized basis and a yield of 3.56%.
A number of analysts recently issued reports on TRST shares. BidaskClub downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Friday, September 21st. ValuEngine downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th.
In other TrustCo Bank Corp NY news, Director Gennaro Dennis A. De bought 5,000 shares of the business’s stock in a transaction on Monday, November 5th. The stock was purchased at an average price of $7.63 per share, for a total transaction of $38,150.00. Following the completion of the transaction, the director now directly owns 104,568 shares of the company’s stock, valued at $797,853.84. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 11,323 shares of company stock valued at $86,899 in the last quarter. Company insiders own 3.80% of the company’s stock.
TrustCo Bank Corp NY Profile
TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.
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