PNC Financial Services Group Inc. Cuts Stock Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

PNC Financial Services Group Inc. reduced its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,080 shares of the bank’s stock after selling 320 shares during the period. PNC Financial Services Group Inc.’s holdings in TrustCo Bank Corp NY were worth $399,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TRST. LPL Financial LLC increased its stake in TrustCo Bank Corp NY by 18.0% during the 4th quarter. LPL Financial LLC now owns 10,851 shares of the bank’s stock worth $361,000 after buying an additional 1,655 shares in the last quarter. JPMorgan Chase & Co. increased its stake in TrustCo Bank Corp NY by 69.5% during the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank’s stock worth $3,564,000 after buying an additional 43,880 shares in the last quarter. Wells Fargo & Company MN increased its stake in TrustCo Bank Corp NY by 28.5% during the 4th quarter. Wells Fargo & Company MN now owns 11,464 shares of the bank’s stock worth $382,000 after buying an additional 2,541 shares in the last quarter. Invesco Ltd. increased its stake in TrustCo Bank Corp NY by 277.3% during the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock worth $8,278,000 after buying an additional 182,634 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TrustCo Bank Corp NY during the 4th quarter worth approximately $247,000. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Trading Up 0.3%

NASDAQ:TRST opened at $35.63 on Friday. The stock has a 50 day moving average of $33.66 and a two-hundred day moving average of $31.96. The firm has a market cap of $671.63 million, a P/E ratio of 12.68 and a beta of 0.70. TrustCo Bank Corp NY has a 12 month low of $27.18 and a 12 month high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The business had revenue of $46.60 million during the quarter, compared to analyst estimates of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.36 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.0%. TrustCo Bank Corp NY’s dividend payout ratio is 51.25%.

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.