State of New Jersey Common Pension Fund D Has $1.97 Million Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

State of New Jersey Common Pension Fund D decreased its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,388 shares of the bank’s stock after selling 32,741 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.36% of TrustCo Bank Corp NY worth $1,968,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TRST. Hsbc Holdings PLC bought a new position in shares of TrustCo Bank Corp NY during the fourth quarter worth about $2,672,000. Acadian Asset Management LLC acquired a new position in TrustCo Bank Corp NY during the 1st quarter worth approximately $672,000. Boston Partners bought a new position in shares of TrustCo Bank Corp NY during the 1st quarter worth approximately $525,000. Bank of New York Mellon Corp raised its holdings in shares of TrustCo Bank Corp NY by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock valued at $6,998,000 after purchasing an additional 19,316 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in TrustCo Bank Corp NY by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock worth $37,335,000 after purchasing an additional 14,183 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 Stock Performance

TRST opened at $33.65 on Friday. The business’s 50-day simple moving average is $33.45 and its 200 day simple moving average is $29.64. TrustCo Bank Corp NY has a 52-week low of $23.78 and a 52-week high of $36.51. The firm has a market capitalization of $640.16 million, a PE ratio of 12.06 and a beta of 0.82.

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

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 51.61%.

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.