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

New York State Teachers Retirement System lessened its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,467 shares of the bank’s stock after selling 800 shares during the quarter. New York State Teachers Retirement System owned about 0.19% of TrustCo Bank Corp NY worth $999,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of TrustCo Bank Corp NY by 1.7% in the 3rd quarter. Swiss National Bank now owns 41,820 shares of the bank’s stock worth $1,141,000 after acquiring an additional 700 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in TrustCo Bank Corp NY by 14.3% in the 4th quarter. New York State Common Retirement Fund now owns 7,295 shares of the bank’s stock worth $227,000 after buying an additional 910 shares during the period. GAMMA Investing LLC bought a new stake in shares of TrustCo Bank Corp NY in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. increased its stake in shares of TrustCo Bank Corp NY by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,903 shares of the bank’s stock valued at $307,000 after buying an additional 1,068 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of TrustCo Bank Corp NY by 3.3% during the third quarter. Gabelli Funds LLC now owns 46,947 shares of the bank’s stock valued at $1,281,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

Shares of TRST stock traded up $0.22 during mid-day trading on Tuesday, reaching $26.67. 120,436 shares of the company’s stock traded hands, compared to its average volume of 75,038. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $32.10. The firm has a 50 day moving average price of $27.52 and a two-hundred day moving average price of $28.31. The firm has a market capitalization of $507.26 million, a PE ratio of 9.56 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, April 22nd. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. TrustCo Bank Corp NY had a return on equity of 8.35% and a net margin of 21.17%. The firm had revenue of $41.42 million during the quarter, compared to analysts’ expectations of $43.16 million. As a group, equities analysts expect that TrustCo Bank Corp NY will post 2.38 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 5.40%. TrustCo Bank Corp NY’s payout ratio is currently 51.61%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Saturday.

TrustCo Bank Corp NY 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.