Trexquant Investment LP Purchases 24,715 Shares of TrustCo Bank Corp NY $TRST

Trexquant Investment LP boosted its position in TrustCo Bank Corp NY (NASDAQ:TRST) by 97.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,163 shares of the bank’s stock after acquiring an additional 24,715 shares during the quarter. Trexquant Investment LP owned 0.26% of TrustCo Bank Corp NY worth $1,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TRST. GAMMA Investing LLC increased its stake in TrustCo Bank Corp NY by 51.4% in the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank’s stock valued at $53,000 after acquiring an additional 592 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in TrustCo Bank Corp NY in the fourth quarter valued at approximately $93,000. Point72 Asset Management L.P. bought a new position in TrustCo Bank Corp NY in the fourth quarter valued at approximately $203,000. CWM LLC increased its stake in TrustCo Bank Corp NY by 23.3% in the first quarter. CWM LLC now owns 7,626 shares of the bank’s stock valued at $232,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in TrustCo Bank Corp NY in the first quarter valued at approximately $232,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $39.95 on Friday. The company’s 50 day simple moving average is $35.77 and its 200 day simple moving average is $32.56. The stock has a market capitalization of $753.06 million, a price-to-earnings ratio of 14.22 and a beta of 0.72. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $40.96.

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

TrustCo Bank Corp NY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 5th. This is a boost from TrustCo Bank Corp NY’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.8%. TrustCo Bank Corp NY’s payout ratio is presently 51.25%.

TrustCo Bank Corp NY 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.