TrustCo Bank Corp NY $TRST Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,748 shares of the bank’s stock after selling 1,838 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of TrustCo Bank Corp NY worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TRST. GAMMA Investing LLC increased its stake in 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 purchasing an additional 592 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in TrustCo Bank Corp NY by 49.2% in the first quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock valued at $128,000 after purchasing an additional 1,380 shares during the last quarter. Cetera Investment Advisers acquired a new position in TrustCo Bank Corp NY in the first quarter valued at $232,000. CWM LLC increased its stake in TrustCo Bank Corp NY by 23.3% in the first quarter. CWM LLC now owns 7,626 shares of the bank’s stock valued at $232,000 after purchasing an additional 1,440 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in TrustCo Bank Corp NY by 14.4% in the first quarter. EntryPoint Capital LLC now owns 7,654 shares of the bank’s stock valued at $233,000 after purchasing an additional 964 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Up 2.0%

Shares of NASDAQ TRST opened at $36.92 on Thursday. The stock’s 50 day moving average price is $37.66 and its two-hundred day moving average price is $33.99. TrustCo Bank Corp NY has a 52-week low of $27.18 and a 52-week high of $40.96. The stock has a market capitalization of $695.94 million, a P/E ratio of 12.35 and a beta of 0.66.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $47.81 million for the quarter, compared to analysts’ expectations of $47.27 million. TrustCo Bank Corp NY had a return on equity of 8.29% and a net margin of 20.74%.During the same period in the prior year, the firm earned $0.68 EPS.

TrustCo Bank Corp NY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, September 5th. This is a positive change from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. TrustCo Bank Corp NY’s payout ratio is currently 54.09%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of TrustCo Bank Corp NY in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, TrustCo Bank Corp NY currently has a consensus rating of “Buy”.

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.