New York State Teachers Retirement System Decreases Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

New York State Teachers Retirement System reduced its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,267 shares of the bank’s stock after selling 1,247 shares during the period. New York State Teachers Retirement System’s holdings in TrustCo Bank Corp NY were worth $1,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRST. State Street Corp lifted its stake in shares of TrustCo Bank Corp NY by 21.2% in the first quarter. State Street Corp now owns 861,922 shares of the bank’s stock worth $27,793,000 after buying an additional 150,826 shares in the last quarter. Ancora Advisors LLC increased its position in TrustCo Bank Corp NY by 499.0% during the first quarter. Ancora Advisors LLC now owns 131,314 shares of the bank’s stock worth $968,000 after purchasing an additional 109,391 shares during the last quarter. Assenagon Asset Management S.A. increased its position in TrustCo Bank Corp NY by 911.9% during the third quarter. Assenagon Asset Management S.A. now owns 110,749 shares of the bank’s stock worth $3,022,000 after purchasing an additional 99,804 shares during the last quarter. Goldman Sachs Group Inc. increased its position in TrustCo Bank Corp NY by 45.5% during the second quarter. Goldman Sachs Group Inc. now owns 308,685 shares of the bank’s stock worth $9,520,000 after purchasing an additional 96,587 shares during the last quarter. Finally, BlackRock Inc. increased its position in TrustCo Bank Corp NY by 3.4% during the first quarter. BlackRock Inc. now owns 2,815,050 shares of the bank’s stock worth $89,913,000 after purchasing an additional 92,483 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Trading Down 0.3 %

TrustCo Bank Corp NY stock opened at $25.91 on Thursday. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $32.10. The stock has a market cap of $492.81 million, a P/E ratio of 8.41 and a beta of 0.84. The company has a 50-day moving average price of $27.36 and a 200 day moving average price of $28.05.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.14). TrustCo Bank Corp NY had a net margin of 23.98% and a return on equity of 9.36%. The company had revenue of $63.11 million for the quarter, compared to analyst estimates of $44.90 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, analysts forecast that TrustCo Bank Corp NY will post 2.54 EPS for the current year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd.

Insider Buying and Selling at TrustCo Bank Corp NY

In related news, EVP Eric W. Schreck purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the completion of the transaction, the executive vice president now directly owns 41,407 shares in the company, valued at $1,177,615.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Eric W. Schreck purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the completion of the transaction, the executive vice president now directly owns 41,407 shares in the company, valued at $1,177,615.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Kevin M. Curley purchased 916 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $27.30 per share, with a total value of $25,006.80. Following the completion of the transaction, the chief operating officer now owns 34,766 shares of the company’s stock, valued at $949,111.80. The disclosure for this purchase can be found here. Insiders purchased a total of 2,879 shares of company stock worth $80,023 over the last three months. Insiders own 3.32% of the company’s stock.

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 and businesses. 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.