Principal Financial Group Inc. Sells 4,208 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Principal Financial Group Inc. reduced its stake in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 89,589 shares of the bank’s stock after selling 4,208 shares during the quarter. Principal Financial Group Inc.’s holdings in TrustCo Bank Corp NY were worth $2,963,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRST. AQR Capital Management LLC increased its stake in shares of TrustCo Bank Corp NY by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock valued at $8,765,000 after buying an additional 73,250 shares during the period. Acadian Asset Management LLC boosted its holdings in TrustCo Bank Corp NY by 270.4% in the second quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock valued at $2,550,000 after acquiring an additional 64,751 shares during the last quarter. American Century Companies Inc. increased its position in TrustCo Bank Corp NY by 17.8% in the second quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares during the period. Bank of New York Mellon Corp increased its position in TrustCo Bank Corp NY by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock worth $6,998,000 after purchasing an additional 19,316 shares during the period. Finally, Boston Partners bought a new stake in TrustCo Bank Corp NY during the 1st quarter worth about $525,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Trading Up 2.0 %

TrustCo Bank Corp NY stock opened at $37.52 on Friday. The company has a market cap of $713.26 million, a PE ratio of 15.01 and a beta of 0.81. TrustCo Bank Corp NY has a 1 year low of $25.83 and a 1 year high of $37.84. The company’s 50-day moving average is $33.99 and its two-hundred day moving average is $31.76.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The firm had revenue of $66.00 million for the quarter. During the same period in the previous year, the business posted $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, December 6th. TrustCo Bank Corp NY’s payout ratio is presently 57.60%.

About TrustCo Bank Corp NY

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.