TrustCo Bank Corp NY (NASDAQ:TRST) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,227 shares of the bank’s stock after acquiring an additional 19,316 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.28% of TrustCo Bank Corp NY worth $6,998,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund raised its position 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 worth $227,000 after purchasing an additional 910 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of TrustCo Bank Corp NY by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank’s stock valued at $36,836,000 after acquiring an additional 33,892 shares during the period. PNC Financial Services Group Inc. grew its position in shares of TrustCo Bank Corp NY by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,903 shares of the bank’s stock worth $307,000 after acquiring an additional 1,068 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 4th quarter worth about $144,000. Finally, Hsbc Holdings PLC bought a new stake in TrustCo Bank Corp NY in the 4th quarter valued at about $2,672,000. Institutional investors own 68.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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 Price Performance

TRST opened at $32.44 on Thursday. The stock’s 50 day moving average price is $32.80 and its 200 day moving average price is $29.34. The stock has a market cap of $617.14 million, a P/E ratio of 11.63 and a beta of 0.82. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $36.51.

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

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 51.61%.

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.