TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Update

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 212,700 shares, a growth of 27.9% from the September 30th total of 166,300 shares. Based on an average daily volume of 81,100 shares, the short-interest ratio is currently 2.6 days. Currently, 1.2% of the shares of the company are short sold.

TrustCo Bank Corp NY Stock Down 0.3 %

Shares of NASDAQ TRST opened at $33.37 on Wednesday. TrustCo Bank Corp NY has a 52-week low of $25.18 and a 52-week high of $36.51. The business has a 50-day moving average price of $33.27 and a 200 day moving average price of $30.73. The stock has a market cap of $634.36 million, a PE ratio of 13.35 and a beta of 0.81.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share for the quarter. The firm had revenue of $66.00 million during the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. During the same quarter last year, the business posted $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Friday, September 6th. TrustCo Bank Corp NY’s payout ratio is 57.60%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in TrustCo Bank Corp NY by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock worth $8,765,000 after acquiring an additional 73,250 shares during the period. Acadian Asset Management LLC grew its holdings in shares of TrustCo Bank Corp NY by 270.4% during the 2nd quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock worth $2,550,000 after purchasing an additional 64,751 shares in the last quarter. American Century Companies Inc. boosted its stake in TrustCo Bank Corp NY by 17.8% in the second quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in TrustCo Bank Corp NY by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock valued at $6,998,000 after purchasing an additional 19,316 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of TrustCo Bank Corp NY during the first quarter worth about $525,000. 68.57% of the stock is owned by institutional investors.

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.