Northern Trust Corp Has $7.43 Million Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Northern Trust Corp lowered its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,007 shares of the bank's stock after selling 10,460 shares during the period. Northern Trust Corp owned approximately 1.17% of TrustCo Bank Corp NY worth $7,428,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of TrustCo Bank Corp NY in the 4th quarter valued at $29,000. R Squared Ltd purchased a new position in TrustCo Bank Corp NY in the 4th quarter valued at about $91,000. KLP Kapitalforvaltning AS bought a new position in TrustCo Bank Corp NY during the 4th quarter valued at $120,000. Graney & King LLC bought a new position in TrustCo Bank Corp NY during the 4th quarter valued at $142,000. Finally, AlphaQuest LLC bought a new position in TrustCo Bank Corp NY during the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Price Performance

TRST traded down $0.35 during trading hours on Friday, hitting $30.72. 87,360 shares of the stock were exchanged, compared to its average volume of 87,028. The stock has a market cap of $584.29 million, a price-to-earnings ratio of 11.95 and a beta of 0.64. TrustCo Bank Corp NY has a 12 month low of $26.14 and a 12 month high of $38.89. The stock has a 50-day simple moving average of $30.28 and a 200-day simple moving average of $32.51.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $45.35 million during the quarter, compared to analysts' expectations of $44.99 million. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

TrustCo Bank Corp NY Dividend Announcement

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