Ameriprise Financial Inc. Sells 11,760 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Ameriprise Financial Inc. decreased its holdings in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,500 shares of the bank's stock after selling 11,760 shares during the period. Ameriprise Financial Inc. owned 0.44% of TrustCo Bank Corp NY worth $2,818,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. MetLife Investment Management LLC increased its stake 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 worth $373,000 after purchasing an additional 846 shares in the last quarter. Barclays PLC boosted its position in shares of TrustCo Bank Corp NY by 2.3% in the fourth quarter. Barclays PLC now owns 38,579 shares of the bank's stock valued at $1,285,000 after acquiring an additional 850 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter valued at approximately $29,000. Gabelli Funds LLC boosted its position in shares of TrustCo Bank Corp NY by 2.2% in the fourth quarter. Gabelli Funds LLC now owns 60,505 shares of the bank's stock valued at $2,015,000 after acquiring an additional 1,300 shares during the period. Finally, LPL Financial LLC boosted its position in shares of TrustCo Bank Corp NY by 18.0% in the fourth quarter. LPL Financial LLC now owns 10,851 shares of the bank's stock valued at $361,000 after acquiring an additional 1,655 shares during the period. Hedge funds and other institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Down 1.2%

Shares of TRST stock traded down $0.36 during trading hours on Monday, reaching $30.68. The stock had a trading volume of 86,645 shares, compared to its average volume of 87,230. The stock's fifty day simple moving average is $30.30 and its 200 day simple moving average is $32.27. TrustCo Bank Corp NY has a 12 month low of $26.14 and a 12 month high of $38.89. The firm has a market capitalization of $583.53 million, a PE ratio of 11.94 and a beta of 0.64.

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

TrustCo Bank Corp NY declared that its board has approved a share repurchase plan on Tuesday, March 18th that permits the company to repurchase 0 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.36 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.69%. TrustCo Bank Corp NY's dividend payout ratio (DPR) 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.