Trexquant Investment LP Boosts Stock Position in TrustCo Bank Corp NY $TRST

Key Points

• Trexquant Investment LP increased its stake in TrustCo Bank Corp NY by 97.1%, acquiring an additional 24,715 shares in the first quarter, bringing its total to 50,163 shares.
• TrustCo Bank Corp NY recently raised its quarterly dividend to $0.38 per share, which reflects an annualized dividend yield of 3.8% and a payout ratio of 51.25%.
• The bank reported a net income of $0.79 per share in its latest quarter, surpassing analysts' expectations of $0.69, with revenues reaching $46.60 million.

Trexquant Investment LP raised its holdings in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 97.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRST. Raymond James Financial Inc. acquired a new stake in TrustCo Bank Corp NY in the fourth quarter valued at $247,000. First Trust Advisors LP raised its stake in shares of TrustCo Bank Corp NY by 72.8% during the 4th quarter. First Trust Advisors LP now owns 19,871 shares of the bank's stock worth $662,000 after buying an additional 8,370 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of TrustCo Bank Corp NY by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,144 shares of the bank's stock worth $538,000 after buying an additional 2,857 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth $479,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of TrustCo Bank Corp NY during the 4th quarter worth $93,000. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Up 1.4%

Shares of NASDAQ:TRST traded up $0.57 during midday trading on Thursday, hitting $40.05. 124,582 shares of the stock were exchanged, compared to its average volume of 139,965. The stock has a market cap of $754.98 million, a P/E ratio of 14.25 and a beta of 0.72. TrustCo Bank Corp NY has a twelve month low of $27.18 and a twelve month high of $40.96. The company has a 50 day moving average price of $36.16 and a 200-day moving average price of $32.74.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. The business had revenue of $46.60 million during the quarter, compared to the consensus estimate of $46.16 million. TrustCo Bank Corp NY had a return on equity of 7.85% and a net margin of 19.84%.

TrustCo Bank Corp NY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. TrustCo Bank Corp NY's dividend payout ratio is presently 54.09%.

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.