Verition Fund Management LLC Acquires 75,594 Shares of TrustCo Bank Corp NY (NASDAQ:TRST)

Verition Fund Management LLC raised its holdings in shares of TrustCo Bank Corp NY (NASDAQ:TRST) by 35.2% in the third quarter, Holdings Channel.com reports. The firm owned 290,208 shares of the bank’s stock after purchasing an additional 75,594 shares during the period. Verition Fund Management LLC’s holdings in TrustCo Bank Corp NY were worth $9,597,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in TrustCo Bank Corp NY by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock valued at $37,335,000 after buying an additional 14,183 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of TrustCo Bank Corp NY by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,202,262 shares of the bank’s stock valued at $34,588,000 after acquiring an additional 11,096 shares in the last quarter. Systematic Financial Management LP raised its position in shares of TrustCo Bank Corp NY by 0.7% in the 2nd quarter. Systematic Financial Management LP now owns 948,560 shares of the bank’s stock worth $27,290,000 after purchasing an additional 6,839 shares during the last quarter. American Century Companies Inc. boosted its stake in TrustCo Bank Corp NY by 17.8% in the 2nd quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in TrustCo Bank Corp NY by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock valued at $8,765,000 after purchasing an additional 73,250 shares during the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST opened at $37.24 on Friday. The firm has a market cap of $707.93 million, a P/E ratio of 14.90 and a beta of 0.81. TrustCo Bank Corp NY has a fifty-two week low of $25.83 and a fifty-two week high of $38.89. The firm has a 50-day simple moving average of $34.36 and a two-hundred day simple moving average of $32.09.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.68 earnings per share for the quarter. The company had revenue of $66.00 million during the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. During the same period last year, the business earned $0.77 EPS.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, December 6th. TrustCo Bank Corp NY’s payout ratio is currently 57.60%.

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.