TrustCo Bank Corp NY (NASDAQ:TRST) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,701 shares of the bank’s stock after selling 401 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of TrustCo Bank Corp NY worth $2,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of TrustCo Bank Corp NY during the 4th quarter valued at $28,000. Quest Partners LLC acquired a new stake in TrustCo Bank Corp NY during the fourth quarter worth about $144,000. Nisa Investment Advisors LLC increased its stake in TrustCo Bank Corp NY by 39,333.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after acquiring an additional 5,900 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at about $218,000. Finally, New York State Common Retirement Fund grew its holdings 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. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Down 0.8 %

Shares of TRST traded down $0.23 during trading on Friday, reaching $28.12. The company’s stock had a trading volume of 16,500 shares, compared to its average volume of 75,419. TrustCo Bank Corp NY has a twelve month low of $23.78 and a twelve month high of $32.10. The company has a market cap of $534.84 million, a price-to-earnings ratio of 10.16 and a beta of 0.83. The company has a fifty day moving average of $27.77 and a two-hundred day moving average of $28.16.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $41.42 million during the quarter, compared to analyst estimates of $43.16 million. TrustCo Bank Corp NY had a return on equity of 8.35% and a net margin of 21.17%. As a group, equities analysts forecast that TrustCo Bank Corp NY will post 2.38 EPS for the current fiscal year.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. TrustCo Bank Corp NY’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

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

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.