Allspring Global Investments Holdings LLC Reduces Holdings in TrustCo Bank Corp NY (NASDAQ:TRST)

Allspring Global Investments Holdings LLC lowered its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 59.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,416 shares of the bank’s stock after selling 2,112 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TrustCo Bank Corp NY were worth $44,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of TrustCo Bank Corp NY by 39,333.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,915 shares of the bank’s stock worth $184,000 after purchasing an additional 5,900 shares during the last quarter. Advisor Partners II LLC acquired a new position in shares of TrustCo Bank Corp NY in the third quarter worth $201,000. Illinois Municipal Retirement Fund purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter valued at $301,000. Trexquant Investment LP lifted its position in shares of TrustCo Bank Corp NY by 33.8% in the third quarter. Trexquant Investment LP now owns 34,893 shares of the bank’s stock valued at $952,000 after acquiring an additional 8,821 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of TrustCo Bank Corp NY by 1.7% during the third quarter. Swiss National Bank now owns 41,820 shares of the bank’s stock valued at $1,141,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Insider Transactions at TrustCo Bank Corp NY

In other TrustCo Bank Corp NY news, EVP Eric W. Schreck bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the completion of the purchase, the executive vice president now owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Eric W. Schreck bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $28.44 per share, with a total value of $28,440.00. Following the completion of the transaction, the executive vice president now owns 41,407 shares of the company’s stock, valued at $1,177,615.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Kevin M. Curley purchased 916 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average cost of $27.30 per share, with a total value of $25,006.80. Following the transaction, the chief operating officer now directly owns 34,766 shares of the company’s stock, valued at approximately $949,111.80. The disclosure for this purchase can be found here. Insiders have acquired 2,879 shares of company stock worth $80,023 over the last quarter. 3.32% of the stock is currently owned by insiders.

TrustCo Bank Corp NY Stock Performance

Shares of TRST opened at $26.62 on Wednesday. TrustCo Bank Corp NY has a 1 year low of $23.78 and a 1 year high of $32.10. The company’s 50 day simple moving average is $27.21 and its 200 day simple moving average is $28.04. The company has a market capitalization of $506.31 million, a price-to-earnings ratio of 9.54 and a beta of 0.84.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a report on Wednesday.

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.