Bank of New York Mellon Corp Reduces Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

Bank of New York Mellon Corp lessened its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,425 shares of the bank's stock after selling 8,200 shares during the period. Bank of New York Mellon Corp owned 1.02% of TrustCo Bank Corp NY worth $5,926,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TrustCo Bank Corp NY by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,568 shares of the bank's stock worth $352,000 after purchasing an additional 362 shares in the last quarter. New York State Teachers Retirement System boosted its stake in TrustCo Bank Corp NY by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank's stock worth $932,000 after purchasing an additional 436 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in TrustCo Bank Corp NY by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 26,878 shares of the bank's stock worth $819,000 after purchasing an additional 447 shares in the last quarter. GAMMA Investing LLC boosted its stake in TrustCo Bank Corp NY by 51.4% in the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock worth $53,000 after purchasing an additional 592 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in TrustCo Bank Corp NY by 8.2% in the 4th 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. Institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Down 0.5%

TrustCo Bank Corp NY stock traded down $0.19 during midday trading on Friday, hitting $34.70. The stock had a trading volume of 74,306 shares, compared to its average volume of 90,841. The firm's fifty day moving average is $32.86 and its two-hundred day moving average is $31.75. The company has a market capitalization of $659.99 million, a PE ratio of 12.35 and a beta of 0.66. TrustCo Bank Corp NY has a 52-week low of $27.18 and a 52-week high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%. The firm had revenue of $46.60 million for the quarter, compared to analyst estimates of $46.16 million.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, June 6th. TrustCo Bank Corp NY's payout ratio is 51.25%.

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.