TrustCo Bank Corp NY (NASDAQ:TRST) Stock Holdings Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,500 shares of the bank's stock after selling 11,760 shares during the quarter. Ameriprise Financial Inc. owned 0.44% of TrustCo Bank Corp NY worth $2,818,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings in shares of TrustCo Bank Corp NY by 6.5% during the fourth quarter. Voya Investment Management LLC now owns 28,662 shares of the bank's stock valued at $955,000 after acquiring an additional 1,750 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in TrustCo Bank Corp NY by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,144 shares of the bank's stock worth $538,000 after purchasing an additional 2,857 shares during the period. State of Tennessee Department of Treasury grew its position in TrustCo Bank Corp NY by 26.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 18,711 shares of the bank's stock worth $623,000 after purchasing an additional 3,965 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in TrustCo Bank Corp NY by 50.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,525 shares of the bank's stock valued at $351,000 after purchasing an additional 3,542 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of TrustCo Bank Corp NY by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 11,207 shares of the bank's stock valued at $373,000 after purchasing an additional 846 shares in the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Down 0.2%

Shares of TrustCo Bank Corp NY stock traded down $0.06 during midday trading on Friday, hitting $31.10. The company's stock had a trading volume of 80,506 shares, compared to its average volume of 87,232. TrustCo Bank Corp NY has a 1-year low of $26.14 and a 1-year high of $38.89. The firm has a market capitalization of $591.52 million, a P/E ratio of 12.10 and a beta of 0.64. The stock has a 50-day simple moving average of $30.30 and a 200-day simple moving average of $32.34.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%. The firm had revenue of $45.35 million during the quarter, compared to the consensus estimate of $44.99 million.

TrustCo Bank Corp NY declared that its board has authorized a stock buyback plan on Tuesday, March 18th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, June 6th. TrustCo Bank Corp NY's dividend payout ratio is currently 53.73%.

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.