Thrivent Financial for Lutherans cut its stake in TrustCo Bank Corp NY (NASDAQ:TRST – Get Rating) by 27.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,474 shares of the bank’s stock after selling 51,942 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.71% of TrustCo Bank Corp NY worth $5,055,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Systematic Financial Management LP grew its position in TrustCo Bank Corp NY by 1.4% during the third quarter. Systematic Financial Management LP now owns 812,718 shares of the bank’s stock worth $25,536,000 after buying an additional 11,345 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of TrustCo Bank Corp NY by 3.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 41,307 shares of the bank’s stock valued at $1,553,000 after acquiring an additional 1,260 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of TrustCo Bank Corp NY in the third quarter valued at approximately $790,000. Los Angeles Capital Management LLC raised its position in TrustCo Bank Corp NY by 13.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 31,309 shares of the bank’s stock worth $984,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in TrustCo Bank Corp NY in the 4th quarter worth approximately $295,000. 65.30% of the stock is owned by institutional investors and hedge funds.
Insider Activity at TrustCo Bank Corp NY
In other news, Director Curtis N. Powell purchased 785 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was acquired at an average cost of $37.65 per share, with a total value of $29,555.25. Following the acquisition, the director now owns 1,527 shares in the company, valued at approximately $57,491.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Curtis N. Powell purchased 785 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was acquired at an average cost of $37.65 per share, with a total value of $29,555.25. Following the acquisition, the director now owns 1,527 shares in the company, valued at approximately $57,491.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Ozimek purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $27.50 per share, with a total value of $55,000.00. Following the completion of the acquisition, the chief financial officer now owns 22,803 shares in the company, valued at approximately $627,082.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 13,568 shares of company stock valued at $413,741. Insiders own 3.26% of the company’s stock.
TrustCo Bank Corp NY Stock Performance
TrustCo Bank Corp NY Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 3rd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $1.44 annualized dividend and a yield of 5.21%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 36.27%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Piper Sandler cut shares of TrustCo Bank Corp NY from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $39.00 to $36.00 in a research report on Wednesday, January 25th. StockNews.com downgraded TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th.
TrustCo Bank Corp NY Company 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, partnerships, and corporations. It 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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