TrustCo Bank Corp NY (NASDAQ:TRST) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,903 shares of the bank’s stock after acquiring an additional 1,068 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of TrustCo Bank Corp NY worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRST. GAMMA Investing LLC acquired a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at about $28,000. Quest Partners LLC purchased a new position in TrustCo Bank Corp NY during the fourth quarter valued at approximately $144,000. Nisa Investment Advisors LLC lifted its position in TrustCo Bank Corp NY by 39,333.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after buying an additional 5,900 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of TrustCo Bank Corp NY during the 4th quarter valued at $218,000. Finally, New York State Common Retirement Fund grew its holdings in shares of TrustCo Bank Corp NY by 14.3% during the 4th quarter. New York State Common Retirement Fund now owns 7,295 shares of the bank’s stock valued at $227,000 after acquiring an additional 910 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Price Performance

TRST opened at $28.77 on Monday. The company has a market capitalization of $547.21 million, a PE ratio of 10.31 and a beta of 0.84. The business has a 50-day moving average of $27.67 and a 200-day moving average of $28.20. TrustCo Bank Corp NY has a fifty-two week low of $23.78 and a fifty-two week high of $32.10.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $41.42 million for the quarter, compared to analyst estimates of $43.16 million. TrustCo Bank Corp NY had a net margin of 21.17% and a return on equity of 8.35%. On average, equities research analysts expect that TrustCo Bank Corp NY will post 2.38 earnings per share for the current fiscal year.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Friday, June 7th. TrustCo Bank Corp NY’s payout ratio is presently 51.61%.

Analyst Ratings Changes

Separately, StockNews.com upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Monday, June 17th.

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 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.