The Manufacturers Life Insurance Company Reduces Position in TrustCo Bank Corp NY (NASDAQ:TRST)

The Manufacturers Life Insurance Company decreased its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 12.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,673 shares of the bank’s stock after selling 934 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TrustCo Bank Corp NY were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in TrustCo Bank Corp NY by 8.6% during the second quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock worth $6,998,000 after purchasing an additional 19,316 shares during the period. Acadian Asset Management LLC increased its position in shares of TrustCo Bank Corp NY by 270.4% during the second quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock worth $2,550,000 after acquiring an additional 64,751 shares during the period. Texas Permanent School Fund Corp grew its position in shares of TrustCo Bank Corp NY by 46.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,315 shares of the bank’s stock worth $700,000 after buying an additional 7,665 shares in the last quarter. American Century Companies Inc. lifted its position in shares of TrustCo Bank Corp NY by 17.8% during the 2nd quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in TrustCo Bank Corp NY by 577.9% during the second quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after purchasing an additional 2,508 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Price Performance

NASDAQ TRST opened at $37.80 on Tuesday. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The company has a market capitalization of $718.58 million, a price-to-earnings ratio of 15.12 and a beta of 0.83. The firm’s fifty day moving average price is $35.27 and its 200 day moving average price is $32.77.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The company had revenue of $66.00 million for the quarter. During the same period in the previous year, the business posted $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 57.60%.

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.