Principal Financial Group Inc. Has $2.96 Million Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

Principal Financial Group Inc. reduced its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 89,589 shares of the bank’s stock after selling 4,208 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of TrustCo Bank Corp NY worth $2,963,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TRST. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 14,183 shares during the last quarter. Acadian Asset Management LLC acquired a new position in TrustCo Bank Corp NY during the 1st quarter valued at $672,000. Gabelli Funds LLC boosted its holdings in TrustCo Bank Corp NY by 19.5% in the 1st quarter. Gabelli Funds LLC now owns 59,455 shares of the bank’s stock valued at $1,674,000 after purchasing an additional 9,708 shares during the period. Price T Rowe Associates Inc. MD grew its position in TrustCo Bank Corp NY by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,556 shares of the bank’s stock worth $354,000 after purchasing an additional 662 shares during the last quarter. Finally, Boston Partners acquired a new stake in TrustCo Bank Corp NY in the 1st quarter worth $525,000. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Stock Up 2.0 %

Shares of TRST opened at $37.52 on Friday. The stock’s 50-day moving average price is $33.99 and its 200 day moving average price is $31.76. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $37.84. The firm has a market capitalization of $713.26 million, a price-to-earnings ratio of 15.01 and a beta of 0.81.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.68 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The company had revenue of $66.00 million during the quarter. During the same period in the previous year, the business posted $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 annualized dividend and a yield of 3.84%. TrustCo Bank Corp NY’s payout ratio is 57.60%.

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.