Principal Financial Group Inc. Has $2.96 Million Position in TrustCo Bank Corp NY (NASDAQ:TRST)

Principal Financial Group Inc. reduced its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 4.5% in the 3rd quarter, Holdings Channel reports. The firm owned 89,589 shares of the bank’s stock after selling 4,208 shares during the period. 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.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in shares of TrustCo Bank Corp NY in the third quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in shares of TrustCo Bank Corp NY by 55.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of TrustCo Bank Corp NY by 577.9% during the second quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock valued at $85,000 after acquiring an additional 2,508 shares in the last quarter. CWM LLC lifted its stake in shares of TrustCo Bank Corp NY by 36.0% in the third quarter. CWM LLC now owns 6,209 shares of the bank’s stock valued at $205,000 after buying an additional 1,644 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of TrustCo Bank Corp NY during the second quarter valued at approximately $219,000. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

Shares of TRST stock opened at $32.70 on Friday. The company has a market capitalization of $621.63 million, a price-to-earnings ratio of 13.08 and a beta of 0.85. The company has a 50-day simple moving average of $35.43 and a two-hundred day simple moving average of $33.33. TrustCo Bank Corp NY has a 52-week low of $25.83 and a 52-week high of $38.89.

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

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, December 6th. TrustCo Bank Corp NY’s payout ratio is currently 57.60%.

TrustCo Bank Corp NY 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.