Cubist Systematic Strategies LLC Makes New $93,000 Investment in TrustCo Bank Corp NY (NASDAQ:TRST)

Cubist Systematic Strategies LLC acquired a new position in shares of TrustCo Bank Corp NY (NASDAQ:TRST) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,803 shares of the bank’s stock, valued at approximately $93,000.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in TrustCo Bank Corp NY by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,523 shares of the bank’s stock worth $41,022,000 after purchasing an additional 15,482 shares during the period. Franklin Resources Inc. raised its position in shares of TrustCo Bank Corp NY by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 450,602 shares of the bank’s stock worth $15,010,000 after acquiring an additional 7,712 shares in the last quarter. American Century Companies Inc. raised its position in shares of TrustCo Bank Corp NY by 9.5% in the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock worth $13,581,000 after acquiring an additional 35,343 shares in the last quarter. Invesco Ltd. raised its position in shares of TrustCo Bank Corp NY by 277.3% in the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock worth $8,278,000 after acquiring an additional 182,634 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of TrustCo Bank Corp NY by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 177,238 shares of the bank’s stock worth $5,904,000 after acquiring an additional 6,867 shares in the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Trading Down 0.2%

TRST opened at $32.17 on Tuesday. The firm has a market cap of $611.87 million, a price-to-earnings ratio of 12.52 and a beta of 0.64. TrustCo Bank Corp NY has a 12 month low of $26.14 and a 12 month high of $38.89. The stock has a fifty day moving average price of $30.19 and a 200-day moving average price of $32.61.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $45.35 million during the quarter, compared to analyst estimates of $44.99 million. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY declared that its board has approved a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.