Assenagon Asset Management S.A. Reduces Stake in TrustCo Bank Corp NY (NASDAQ:TRST)

Assenagon Asset Management S.A. lessened its holdings in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 85.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,742 shares of the bank's stock after selling 38,664 shares during the quarter. Assenagon Asset Management S.A.'s holdings in TrustCo Bank Corp NY were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC raised its position in 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 last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of TrustCo Bank Corp NY by 26.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank's stock valued at $51,000 after purchasing an additional 378 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of TrustCo Bank Corp NY by 577.9% in the second quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank's stock valued at $85,000 after purchasing an additional 2,508 shares during the last quarter. CWM LLC lifted its position in shares of TrustCo Bank Corp NY by 547.5% in the second quarter. CWM LLC now owns 4,565 shares of the bank's stock worth $131,000 after purchasing an additional 3,860 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in TrustCo Bank Corp NY during the second quarter worth $219,000. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Price Performance

TrustCo Bank Corp NY stock traded down $0.24 during trading hours on Monday, hitting $32.62. The company had a trading volume of 46,909 shares, compared to its average volume of 78,722. The firm has a 50-day moving average of $33.24 and a 200 day moving average of $30.88. The firm has a market cap of $620.11 million, a PE ratio of 13.05 and a beta of 0.81. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $36.51.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share for the quarter. The firm 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 quarter in the previous year, the company earned $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, September 6th. TrustCo Bank Corp NY's payout ratio is 57.60%.

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 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.