TrustCo Bank Corp NY (NASDAQ:TRST) Sees Large Increase in Short Interest

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 124,500 shares, an increase of 33.4% from the November 30th total of 93,300 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 92,300 shares, the short-interest ratio is presently 1.3 days.

TrustCo Bank Corp NY Stock Down 1.2 %

Shares of NASDAQ:TRST traded down $0.39 on Friday, reaching $33.42. 60,449 shares of the company’s stock were exchanged, compared to its average volume of 82,298. TrustCo Bank Corp NY has a fifty-two week low of $25.83 and a fifty-two week high of $38.89. The business’s 50-day moving average is $35.43 and its two-hundred day moving average is $33.16. The firm has a market capitalization of $635.31 million, a price-to-earnings ratio of 13.37 and a beta of 0.83.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $66.00 million for 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 in the prior year, the business earned $0.77 EPS.

TrustCo Bank Corp NY Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 57.60%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in TrustCo Bank Corp NY in the 3rd quarter valued at about $33,000. GAMMA Investing LLC boosted its position in shares of TrustCo Bank Corp NY by 55.3% during the third quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock worth $38,000 after buying an additional 410 shares during the period. Meeder Asset Management Inc. grew its holdings in TrustCo Bank Corp NY by 577.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after buying an additional 2,508 shares in the last quarter. CWM LLC increased its position in TrustCo Bank Corp NY by 36.0% in the 3rd quarter. CWM LLC now owns 6,209 shares of the bank’s stock valued at $205,000 after acquiring an additional 1,644 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in TrustCo Bank Corp NY during the 2nd quarter valued at $219,000. Institutional investors own 68.57% of the company’s stock.

About TrustCo Bank Corp NY

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.