TrustCo Bank Corp NY $TRST Shares Bought by AQR Capital Management LLC

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 first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 222,642 shares of the bank's stock after acquiring an additional 10,431 shares during the period. 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.

A number of other hedge funds also recently made changes to their positions in TRST. New York State Teachers Retirement System grew its holdings in shares of TrustCo Bank Corp NY by 1.4% in the first 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 last quarter. GAMMA Investing LLC grew its stake in shares of TrustCo Bank Corp NY by 51.4% in the 1st 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in TrustCo Bank Corp NY by 69.5% in 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 worth $1,316,000 after purchasing an additional 16,194 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of TrustCo Bank Corp NY during the fourth quarter valued at approximately $93,000. Finally, Principal Financial Group Inc. raised its position in TrustCo Bank Corp NY by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 94,687 shares of the bank's stock worth $2,886,000 after buying an additional 2,529 shares during the last quarter. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Stock Down 1.0%

Shares of TrustCo Bank Corp NY stock traded down $0.40 during trading hours on Monday, reaching $39.16. 123,412 shares of the stock traded hands, compared to its average volume of 96,554. The firm has a market capitalization of $738.21 million, a price-to-earnings ratio of 13.94 and a beta of 0.72. The company has a 50 day moving average price of $36.24 and a 200 day moving average price of $32.79. TrustCo Bank Corp NY has a one year low of $27.18 and a one year high of $40.96.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released 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. TrustCo Bank Corp NY had a net margin of 19.84% and a return on equity of 7.85%. The firm had revenue of $46.60 million for the quarter, compared to analysts' expectations of $46.16 million.

TrustCo Bank Corp NY Increases Dividend

The business also recently announced 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 represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from TrustCo Bank Corp NY's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, September 5th. TrustCo Bank Corp NY's dividend payout ratio is 54.09%.

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.