Hotchkis & Wiley Capital Management LLC Grows Stake in TrustCo Bank Corp NY $TRST

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in TrustCo Bank Corp NY by 32.5%, owning approximately 1.64% of the company valued at $9.5 million after acquiring an additional 76,660 shares.
• TrustCo Bank Corp NY recently declared a quarterly dividend increase to $0.38 per share, up from $0.36, representing an annualized yield of 4.0%.
• The bank reported earnings of $0.79 per share for the most recent quarter, beating analyst expectations and achieving a net margin of 19.84%.

Hotchkis & Wiley Capital Management LLC increased its position in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 32.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 312,582 shares of the bank's stock after acquiring an additional 76,660 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.64% of TrustCo Bank Corp NY worth $9,527,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TrustCo Bank Corp NY by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,568 shares of the bank's stock worth $352,000 after purchasing an additional 362 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of TrustCo Bank Corp NY by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 30,586 shares of the bank's stock worth $932,000 after purchasing an additional 436 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of TrustCo Bank Corp NY by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 26,878 shares of the bank's stock worth $819,000 after purchasing an additional 447 shares during the period. GAMMA Investing LLC boosted its holdings in shares of TrustCo Bank Corp NY by 51.4% in the first quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock worth $53,000 after buying an additional 592 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in TrustCo Bank Corp NY by 8.2% during the fourth quarter. MetLife Investment Management LLC now owns 11,207 shares of the bank's stock valued at $373,000 after buying an additional 846 shares during the period. Hedge funds and other institutional investors own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Up 5.1%

Shares of TRST stock opened at $37.90 on Monday. TrustCo Bank Corp NY has a 12 month low of $27.18 and a 12 month high of $38.89. The stock has a market cap of $714.42 million, a P/E ratio of 13.49 and a beta of 0.70. The company has a 50 day simple moving average of $34.17 and a two-hundred day simple moving average of $32.11.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.10. The firm had revenue of $46.60 million during the quarter, compared to the consensus estimate 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 declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a dividend of $0.38 per share. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. TrustCo Bank Corp NY's dividend 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.

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