Assenagon Asset Management S.A. Sells 26,865 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Assenagon Asset Management S.A. reduced its position in shares of TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) by 42.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,931 shares of the bank’s stock after selling 26,865 shares during the quarter. Assenagon Asset Management S.A. owned 0.19% of TrustCo Bank Corp NY worth $1,129,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TRST. Bank of New York Mellon Corp grew its stake in shares of TrustCo Bank Corp NY by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 238,590 shares of the bank’s stock valued at $7,619,000 after purchasing an additional 1,909 shares during the period. American Century Companies Inc. grew its stake in shares of TrustCo Bank Corp NY by 31.5% during the 1st quarter. American Century Companies Inc. now owns 79,437 shares of the bank’s stock valued at $2,536,000 after purchasing an additional 19,006 shares during the period. Citigroup Inc. grew its stake in shares of TrustCo Bank Corp NY by 10.1% during the 1st quarter. Citigroup Inc. now owns 17,218 shares of the bank’s stock valued at $550,000 after purchasing an additional 1,582 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of TrustCo Bank Corp NY by 12.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,279 shares of the bank’s stock valued at $265,000 after purchasing an additional 892 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TrustCo Bank Corp NY during the 1st quarter valued at about $1,102,000. 65.30% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Stock Up 0.7 %

TRST stock opened at $38.70 on Friday. TrustCo Bank Corp NY has a twelve month low of $29.50 and a twelve month high of $39.36. The stock has a market cap of $737.24 million, a P/E ratio of 10.52 and a beta of 0.93. The business’s 50-day moving average price is $37.93 and its 200-day moving average price is $34.98.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Rating) last posted its quarterly earnings data on Monday, October 24th. The bank reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. TrustCo Bank Corp NY had a return on equity of 11.87% and a net margin of 36.13%. The firm had revenue of $52.18 million for the quarter, compared to analysts’ expectations of $48.13 million. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities research analysts expect that TrustCo Bank Corp NY will post 3.83 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd were issued a $0.36 dividend. The ex-dividend date was Thursday, December 1st. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.72%. TrustCo Bank Corp NY’s payout ratio is currently 39.13%.

Insider Buying and Selling

In other TrustCo Bank Corp NY news, Director Kimberly Adams Russell purchased 1,100 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were bought at an average cost of $37.88 per share, with a total value of $41,668.00. Following the acquisition, the director now owns 4,700 shares in the company, valued at $178,036. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th.

TrustCo Bank Corp NY Profile

(Get Rating)

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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Institutional Ownership by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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