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

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 115,900 shares, a decrease of 48.1% from the October 31st total of 223,300 shares. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is presently 1.4 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Trading of TrustCo Bank Corp NY

Institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in TrustCo Bank Corp NY during the 3rd quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in TrustCo Bank Corp NY by 55.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock worth $38,000 after purchasing an additional 410 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in TrustCo Bank Corp NY by 577.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after purchasing an additional 2,508 shares in the last quarter. CWM LLC lifted its holdings in TrustCo Bank Corp NY by 547.5% during the 2nd quarter. CWM LLC now owns 4,565 shares of the bank’s stock worth $131,000 after purchasing an additional 3,860 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in TrustCo Bank Corp NY during the 2nd quarter worth about $219,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST opened at $37.56 on Thursday. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $38.89. The business’s fifty day moving average price is $34.15 and its 200-day moving average price is $31.94. The stock has a market capitalization of $714.02 million, a PE ratio of 15.03 and a beta of 0.81.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.68 EPS for the quarter. The firm had revenue of $66.00 million for the quarter. TrustCo Bank Corp NY had a return on equity of 7.24% and a net margin of 18.24%. During the same period in the prior year, the company earned $0.77 EPS.

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.83%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 57.60%.

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.