Northwestern Mutual Wealth Management Co. Has $64,000 Stock Position in TrustCo Bank Corp NY $TRST

Northwestern Mutual Wealth Management Co. lowered its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 40.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,114 shares of the bank’s stock after selling 1,441 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in TrustCo Bank Corp NY were worth $64,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in shares of TrustCo Bank Corp NY by 1.4% in the first quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank’s stock valued at $932,000 after acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of TrustCo Bank Corp NY by 51.4% in the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank’s stock valued at $53,000 after acquiring an additional 592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of TrustCo Bank Corp NY by 69.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,499 shares of the bank’s stock valued at $1,316,000 after acquiring an additional 16,194 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of TrustCo Bank Corp NY by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,144 shares of the bank’s stock valued at $538,000 after acquiring an additional 2,857 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $93,000. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Down 1.9%

NASDAQ:TRST opened at $39.95 on Friday. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $40.96. The firm has a 50 day moving average of $35.77 and a 200-day moving average of $32.56. The stock has a market capitalization of $753.06 million, a P/E ratio of 14.22 and a beta of 0.72.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%. The company had revenue of $46.60 million during the quarter, compared to analysts’ expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a $0.38 dividend. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, September 5th. This represents a $1.52 annualized dividend and a yield of 3.8%. TrustCo Bank Corp NY’s dividend payout ratio is presently 51.25%.

TrustCo Bank Corp NY Company Profile

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.