TrustCo Bank Corp NY (NASDAQ:TRST) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lowered its stake in TrustCo Bank Corp NY (NASDAQ:TRST) by 47.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,114 shares of the bank’s stock after selling 1,896 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in TrustCo Bank Corp NY were worth $61,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of TrustCo Bank Corp NY during the 1st quarter worth approximately $672,000. Boston Partners acquired a new position in TrustCo Bank Corp NY in the 1st quarter valued at about $525,000. Bank of New York Mellon Corp lifted its position 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 worth $6,998,000 after purchasing an additional 19,316 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of TrustCo Bank Corp NY by 31.7% in the second quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock valued at $8,765,000 after purchasing an additional 73,250 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of TrustCo Bank Corp NY by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock valued at $37,335,000 after purchasing an additional 14,183 shares during the period. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Up 2.7 %

Shares of TRST opened at $32.79 on Friday. The firm has a market capitalization of $623.34 million, a price-to-earnings ratio of 12.66 and a beta of 0.81. The firm’s fifty day simple moving average is $33.02 and its 200-day simple moving average is $30.19. TrustCo Bank Corp NY has a twelve month low of $23.78 and a twelve month high of $36.51.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, July 22nd. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The firm had revenue of $66.24 million during the quarter, compared to analysts’ expectations of $40.94 million. TrustCo Bank Corp NY had a return on equity of 7.65% and a net margin of 19.22%. During the same quarter in the previous year, the business earned $0.86 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Friday, September 6th. TrustCo Bank Corp NY’s payout ratio is 55.60%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a research note 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.