Hotchkis & Wiley Capital Management LLC Raises Holdings 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 boosted its holdings in TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 32.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,582 shares of the bank's stock after acquiring an additional 76,660 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.64% of TrustCo Bank Corp NY worth $9,527,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in 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 acquiring an additional 436 shares during the last quarter. GAMMA Investing LLC increased its position in shares of TrustCo Bank Corp NY by 51.4% during the 1st quarter. GAMMA Investing LLC now owns 1,744 shares of the bank's stock valued at $53,000 after purchasing an additional 592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of TrustCo Bank Corp NY by 69.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,499 shares of the bank's stock valued at $1,316,000 after purchasing an additional 16,194 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 valued at $538,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of TrustCo Bank Corp NY during the 4th quarter valued at about $93,000. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TrustCo Bank Corp NY stock remained flat at $39.79 during trading on Friday. The stock had a trading volume of 154,550 shares, compared to its average volume of 119,491. The company has a market capitalization of $750.04 million, a PE ratio of 14.16 and a beta of 0.70. The business has a 50 day simple moving average of $35.01 and a two-hundred day simple moving average of $32.32. TrustCo Bank Corp NY has a 12-month low of $27.18 and a 12-month high of $40.02.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. The firm had revenue of $46.60 million for the quarter, compared to analyst estimates 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given 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 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 currently 51.25%.

TrustCo Bank Corp NY Company 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.