First Manhattan Co. lessened its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 529,474 shares of the bank’s stock after selling 15,502 shares during the quarter. First Manhattan Co. owned approximately 0.55% of TrustCo Bank Corp NY worth $4,500,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TRST. Wells Fargo & Company MN raised its stake in shares of TrustCo Bank Corp NY by 10.6% during the 1st quarter. Wells Fargo & Company MN now owns 216,621 shares of the bank’s stock worth $1,830,000 after buying an additional 20,755 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in TrustCo Bank Corp NY by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 465,325 shares of the bank’s stock worth $3,932,000 after purchasing an additional 14,302 shares in the last quarter. Northern Trust Corp increased its position in TrustCo Bank Corp NY by 1.0% during the 1st quarter. Northern Trust Corp now owns 1,415,282 shares of the bank’s stock worth $11,959,000 after purchasing an additional 13,705 shares in the last quarter. BlackRock Inc. increased its position in TrustCo Bank Corp NY by 2.7% during the 1st quarter. BlackRock Inc. now owns 12,487,463 shares of the bank’s stock worth $105,520,000 after purchasing an additional 332,989 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TrustCo Bank Corp NY by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,549,665 shares of the bank’s stock worth $46,895,000 after purchasing an additional 27,058 shares in the last quarter. 62.05% of the stock is owned by institutional investors and hedge funds.
TrustCo Bank Corp NY stock traded down $0.13 during midday trading on Friday, reaching $7.85. 181,394 shares of the company were exchanged, compared to its average volume of 300,868. The stock has a market cap of $790.67 million, a PE ratio of 13.63 and a beta of 1.02. TrustCo Bank Corp NY has a 1 year low of $7.26 and a 1 year high of $9.70.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $44.98 million during the quarter. TrustCo Bank Corp NY had a return on equity of 12.39% and a net margin of 27.07%.
A number of analysts recently commented on TRST shares. BidaskClub cut TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. ValuEngine cut TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th.
In other TrustCo Bank Corp NY news, Director Gennaro Dennis A. De purchased 5,000 shares of the stock in a transaction on Monday, November 5th. The stock was bought at an average price of $7.63 per share, for a total transaction of $38,150.00. Following the acquisition, the director now directly owns 104,568 shares of the company’s stock, valued at $797,853.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by insiders.
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TrustCo Bank Corp NY Profile
TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.
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