State Street Corp Decreases Position in TrustCo Bank Corp NY (NASDAQ:TRST)

State Street Corp reduced its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 871,638 shares of the bank’s stock after selling 5,795 shares during the period. State Street Corp’s holdings in TrustCo Bank Corp NY were worth $29,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $6,998,000 after purchasing an additional 19,316 shares during the period. Acadian Asset Management LLC grew its holdings in TrustCo Bank Corp NY by 270.4% during the 2nd quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock valued at $2,550,000 after purchasing an additional 64,751 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in TrustCo Bank Corp NY by 46.0% during the 2nd 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 during the period. American Century Companies Inc. increased its stake in 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 buying an additional 50,106 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in TrustCo Bank Corp NY by 577.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after buying an additional 2,508 shares in the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST opened at $33.57 on Friday. The stock has a market cap of $638.17 million, a price-to-earnings ratio of 13.43 and a beta of 0.83. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $38.89. The business’s 50-day simple moving average is $35.45 and its 200 day simple moving average is $32.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a return on equity of 7.24% and a net margin of 18.24%. The company had revenue of $66.00 million for the quarter. During the same period in the previous year, the company earned $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. Stockholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.29%. TrustCo Bank Corp NY’s payout ratio is 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.