Thrivent Financial for Lutherans Reduces Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Thrivent Financial for Lutherans decreased its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,861 shares of the bank’s stock after selling 4,727 shares during the period. Thrivent Financial for Lutherans owned about 0.22% of TrustCo Bank Corp NY worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in TrustCo Bank Corp NY by 74.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,128 shares of the bank’s stock valued at $2,088,000 after purchasing an additional 26,881 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of TrustCo Bank Corp NY by 29.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,305 shares of the bank’s stock worth $771,000 after acquiring an additional 5,248 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of TrustCo Bank Corp NY by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 92,158 shares of the bank’s stock worth $3,070,000 after acquiring an additional 2,569 shares in the last quarter. Barclays PLC lifted its holdings in shares of TrustCo Bank Corp NY by 134.4% during the 3rd quarter. Barclays PLC now owns 37,729 shares of the bank’s stock valued at $1,247,000 after purchasing an additional 21,633 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in TrustCo Bank Corp NY during the 4th quarter worth $746,000. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Down 1.5 %

TRST stock opened at $30.50 on Monday. The stock has a market capitalization of $580.11 million, a PE ratio of 11.87 and a beta of 0.80. TrustCo Bank Corp NY has a 52 week low of $25.83 and a 52 week high of $38.89. The firm has a 50 day moving average of $31.95 and a 200 day moving average of $33.40.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.59 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, March 7th. This represents a $1.44 annualized dividend and a yield of 4.72%. TrustCo Bank Corp NY’s dividend payout ratio is presently 56.03%.

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.