Comerica Bank reduced its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,674 shares of the bank’s stock after selling 4,883 shares during the period. Comerica Bank owned approximately 0.09% of TrustCo Bank Corp NY worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of TrustCo Bank Corp NY in the second quarter valued at about $35,000. Exane Derivatives acquired a new position in shares of TrustCo Bank Corp NY in the second quarter valued at about $253,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of TrustCo Bank Corp NY by 3.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 130,153 shares of the bank’s stock valued at $1,010,000 after purchasing an additional 4,730 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of TrustCo Bank Corp NY by 249.0% in the first quarter. BNP Paribas Arbitrage SA now owns 19,494 shares of the bank’s stock valued at $151,000 after purchasing an additional 13,909 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of TrustCo Bank Corp NY in the second quarter valued at about $125,000. 63.45% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on TRST. BidaskClub raised TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Friday, June 28th. GMP Securities reissued a “hold” rating and issued a $6.00 price objective on shares of TrustCo Bank Corp NY in a report on Thursday, July 11th.
Shares of TRST stock traded up $0.15 during mid-day trading on Friday, reaching $8.34. The stock had a trading volume of 21,004 shares, compared to its average volume of 199,730. The firm has a market cap of $762.68 million, a price-to-earnings ratio of 12.49 and a beta of 1.11. TrustCo Bank Corp NY has a 1-year low of $6.51 and a 1-year high of $8.95. The business’s fifty day moving average is $7.77 and its 200-day moving average is $7.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, July 22nd. The bank reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $44.11 million for the quarter. TrustCo Bank Corp NY had a return on equity of 12.19% and a net margin of 29.19%.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.068 per share. This represents a $0.27 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, September 5th.
In related news, Director Anthony J. Md Phd Marinello bought 5,072 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $7.60 per share, with a total value of $38,547.20. Following the completion of the acquisition, the director now directly owns 91,161 shares in the company, valued at $692,823.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 7,400 shares of company stock worth $57,422. 2.64% of the stock is owned by corporate insiders.
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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.
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