Amalgamated Bank Cuts Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Amalgamated Bank decreased its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 9.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,552 shares of the bank’s stock after selling 604 shares during the period. Amalgamated Bank’s holdings in TrustCo Bank Corp NY were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth approximately $2,672,000. Acadian Asset Management LLC acquired a new position in shares of TrustCo Bank Corp NY during the first quarter worth $672,000. Boston Partners purchased a new stake in shares of TrustCo Bank Corp NY during the 1st quarter valued at $525,000. Bank of New York Mellon Corp boosted its position in shares of TrustCo Bank Corp NY by 8.6% in the 2nd 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. Finally, Vanguard Group Inc. grew its stake in TrustCo Bank Corp NY by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock worth $37,335,000 after buying an additional 14,183 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Wall Street Analyst Weigh In

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

TrustCo Bank Corp NY Trading Down 2.3 %

NASDAQ:TRST opened at $32.32 on Wednesday. TrustCo Bank Corp NY has a twelve month low of $23.78 and a twelve month high of $36.51. The company has a market cap of $614.40 million, a PE ratio of 11.58 and a beta of 0.82. The company’s 50 day moving average is $33.45 and its two-hundred day moving average is $29.93.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $66.24 million for the quarter, compared to analyst estimates of $40.94 million. During the same period in the previous year, the company earned $0.86 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.46%. TrustCo Bank Corp NY’s payout ratio is presently 51.61%.

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.