Principal Financial Group Inc. Has $2.81 Million Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

Principal Financial Group Inc. cut its position in shares of TrustCo Bank Corp NY (NASDAQ:TRSTFree Report) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,790 shares of the bank’s stock after selling 5,520 shares during the period. Principal Financial Group Inc. owned 0.54% of TrustCo Bank Corp NY worth $2,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TRST. Cramer Rosenthal Mcglynn LLC bought a new stake in shares of TrustCo Bank Corp NY during the 2nd quarter worth about $4,420,000. State Street Corp boosted its holdings in TrustCo Bank Corp NY by 21.2% in the 1st quarter. State Street Corp now owns 861,922 shares of the bank’s stock valued at $27,793,000 after purchasing an additional 150,826 shares during the period. Ancora Advisors LLC boosted its holdings in TrustCo Bank Corp NY by 499.0% in the 1st quarter. Ancora Advisors LLC now owns 131,314 shares of the bank’s stock valued at $968,000 after purchasing an additional 109,391 shares during the period. Goldman Sachs Group Inc. boosted its holdings in TrustCo Bank Corp NY by 45.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 308,685 shares of the bank’s stock valued at $9,520,000 after purchasing an additional 96,587 shares during the period. Finally, BlackRock Inc. boosted its holdings in TrustCo Bank Corp NY by 3.4% in the 1st quarter. BlackRock Inc. now owns 2,815,050 shares of the bank’s stock valued at $89,913,000 after purchasing an additional 92,483 shares during the period. Institutional investors own 67.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd.

Read Our Latest Stock Report on TrustCo Bank Corp NY

Insider Activity

In other news, EVP Eric W. Schreck bought 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the transaction, the executive vice president now owns 41,407 shares of the company’s stock, valued at $1,177,615.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 1,668 shares of company stock worth $47,058. 3.26% of the stock is currently owned by corporate insiders.

TrustCo Bank Corp NY Stock Up 0.3 %

NASDAQ TRST opened at $27.20 on Friday. The company has a market capitalization of $517.34 million, a P/E ratio of 8.83 and a beta of 0.86. TrustCo Bank Corp NY has a 12-month low of $23.78 and a 12-month high of $37.80. The firm has a 50-day moving average price of $29.76 and a two-hundred day moving average price of $28.50.

TrustCo Bank Corp NY (NASDAQ:TRSTGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.14). The business had revenue of $63.11 million during the quarter, compared to the consensus estimate of $44.90 million. TrustCo Bank Corp NY had a net margin of 23.98% and a return on equity of 9.36%. During the same period in the prior year, the firm earned $1.10 EPS. Equities analysts expect that TrustCo Bank Corp NY will post 2.54 EPS for the current year.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Thursday, November 30th. TrustCo Bank Corp NY’s payout ratio is presently 46.75%.

About TrustCo Bank Corp NY

(Free Report)

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, partnerships, and corporations. 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.

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Institutional Ownership by Quarter for TrustCo Bank Corp NY (NASDAQ:TRST)

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