State Board of Administration of Florida Retirement System cut its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) by 29.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,385 shares of the bank’s stock after selling 5,290 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.06% of TrustCo Bank Corp NY worth $382,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in TRST. Geneos Wealth Management Inc. bought a new position in shares of TrustCo Bank Corp NY in the first quarter worth approximately $30,000. Lazard Asset Management LLC bought a new position in shares of TrustCo Bank Corp NY in the first quarter worth approximately $34,000. Captrust Financial Advisors grew its holdings in shares of TrustCo Bank Corp NY by 104.4% in the first quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock worth $36,000 after purchasing an additional 569 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of TrustCo Bank Corp NY by 17.9% in the first quarter. State of Tennessee Treasury Department now owns 7,322 shares of the bank’s stock worth $234,000 after purchasing an additional 1,110 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of TrustCo Bank Corp NY by 12.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,279 shares of the bank’s stock worth $265,000 after purchasing an additional 892 shares during the last quarter. Institutional investors own 65.70% of the company’s stock.
In other TrustCo Bank Corp NY news, EVP Kevin M. Curley bought 750 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $34.12 per share, for a total transaction of $25,590.00. Following the acquisition, the executive vice president now owns 29,115 shares in the company, valued at approximately $993,403.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.
Wall Street Analysts Forecast Growth
TrustCo Bank Corp NY Stock Up 0.2 %
NASDAQ:TRST opened at $38.63 on Monday. The stock has a market cap of $735.98 million, a P/E ratio of 10.50 and a beta of 0.94. The firm’s fifty day simple moving average is $34.62 and its 200 day simple moving average is $33.06. TrustCo Bank Corp NY has a twelve month low of $29.50 and a twelve month high of $39.00.
TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The bank reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. TrustCo Bank Corp NY had a net margin of 36.13% and a return on equity of 11.87%. During the same period in the previous year, the company earned $0.87 EPS. On average, analysts expect that TrustCo Bank Corp NY will post 3.83 EPS for the current fiscal year.
TrustCo Bank Corp NY Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Thursday, December 1st. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. TrustCo Bank Corp NY’s payout ratio is 38.04%.
About TrustCo Bank Corp NY
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, partnerships, and corporations. 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.
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