AQR Capital Management LLC Grows Position in TrustCo Bank Corp NY $TRST

Key Points

• AQR Capital Management LLC increased its stake in TrustCo Bank Corp NY by 4.9%, owning over 222,000 shares valued at approximately $6.79 million.
• TrustCo Bank Corp NY reported earnings of $0.79 per share for the most recent quarter, surpassing analysts' expectations and showing a revenue of $46.60 million.
• The bank announced a quarterly dividend increase to $0.38, which reflects a 3.8% yield and a payout ratio of 54.09%.

AQR Capital Management LLC increased its position in shares of TrustCo Bank Corp NY (NASDAQ:TRST - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,642 shares of the bank's stock after acquiring an additional 10,431 shares during the quarter. AQR Capital Management LLC owned approximately 1.17% of TrustCo Bank Corp NY worth $6,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its holdings in TrustCo Bank Corp NY by 49.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank's stock valued at $128,000 after buying an additional 1,380 shares during the period. Trexquant Investment LP raised its holdings in TrustCo Bank Corp NY by 97.1% in the 1st quarter. Trexquant Investment LP now owns 50,163 shares of the bank's stock valued at $1,529,000 after buying an additional 24,715 shares during the period. Gabelli Funds LLC raised its holdings in TrustCo Bank Corp NY by 24.5% in the 1st quarter. Gabelli Funds LLC now owns 75,305 shares of the bank's stock valued at $2,295,000 after buying an additional 14,800 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in TrustCo Bank Corp NY by 32.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 312,582 shares of the bank's stock valued at $9,527,000 after buying an additional 76,660 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in TrustCo Bank Corp NY by 14.4% in the 1st quarter. EntryPoint Capital LLC now owns 7,654 shares of the bank's stock valued at $233,000 after buying an additional 964 shares during the period. Institutional investors and hedge funds own 68.57% of the company's stock.

TrustCo Bank Corp NY Trading Up 0.9%

TRST traded up $0.35 on Wednesday, hitting $38.87. The company had a trading volume of 104,818 shares, compared to its average volume of 136,961. The firm has a market cap of $732.74 million, a P/E ratio of 13.83 and a beta of 0.72. TrustCo Bank Corp NY has a 1 year low of $27.18 and a 1 year high of $40.96. The company's fifty day moving average price is $36.46 and its 200 day moving average price is $32.92.

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 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 net margin of 19.84% and a return on equity of 7.85%.

TrustCo Bank Corp NY Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date is Friday, September 5th. TrustCo Bank Corp NY's payout ratio is currently 54.09%.

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.