Goldman Sachs Group Inc. increased its holdings in TrustCo Bank Corp NY (NASDAQ:TRST) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,699 shares of the bank’s stock after acquiring an additional 28,270 shares during the period. Goldman Sachs Group Inc. owned about 0.19% of TrustCo Bank Corp NY worth $1,446,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in TrustCo Bank Corp NY by 0.3% in the 2nd quarter. BlackRock Inc. now owns 11,714,992 shares of the bank’s stock worth $90,792,000 after acquiring an additional 40,466 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in TrustCo Bank Corp NY by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,437,559 shares of the bank’s stock worth $42,141,000 after acquiring an additional 247,305 shares in the last quarter. Vanguard Group Inc. lifted its stake in TrustCo Bank Corp NY by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,207,992 shares of the bank’s stock worth $40,362,000 after acquiring an additional 22,345 shares in the last quarter. State Street Corp lifted its stake in TrustCo Bank Corp NY by 0.8% in the 1st quarter. State Street Corp now owns 2,219,969 shares of the bank’s stock worth $17,430,000 after acquiring an additional 17,328 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in TrustCo Bank Corp NY by 1.1% in the 2nd quarter. Northern Trust Corp now owns 1,429,103 shares of the bank’s stock worth $11,075,000 after acquiring an additional 16,232 shares in the last quarter. 57.67% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William D. Powers sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $8.00, for a total value of $160,000.00. Following the sale, the director now directly owns 90,651 shares of the company’s stock, valued at approximately $725,208. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.
Shares of TrustCo Bank Corp NY (NASDAQ TRST) opened at $8.95 on Friday. The company has a market capitalization of $879.39, a price-to-earnings ratio of 19.06 and a beta of 1.20.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $44.03 million for the quarter. TrustCo Bank Corp NY had a net margin of 25.16% and a return on equity of 10.51%. During the same period last year, the company earned $0.11 earnings per share.
Several equities research analysts recently issued reports on the company. BidaskClub downgraded TrustCo Bank Corp NY from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Canaccord Genuity reissued a “speculative buy” rating and issued a $7.25 price objective on shares of TrustCo Bank Corp NY in a research note on Wednesday, October 18th.
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TrustCo Bank Corp NY Company Profile
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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