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 in December. As of December 31st, there was short interest totalling 199,000 shares, an increase of 59.8% from the December 15th total of 124,500 shares. Based on an average trading volume of 93,600 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.1% of the shares of the stock are short sold.

TrustCo Bank Corp NY Stock Performance

TrustCo Bank Corp NY stock opened at $32.06 on Friday. The firm has a market cap of $609.46 million, a price-to-earnings ratio of 12.82 and a beta of 0.85. TrustCo Bank Corp NY has a 1 year low of $25.83 and a 1 year high of $38.89. The firm’s 50 day moving average price is $35.03 and its two-hundred day moving average price is $33.60.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, October 21st. The bank reported $0.68 EPS for the quarter. The company 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 in the previous year, the business earned $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 57.60%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in shares of TrustCo Bank Corp NY by 263.7% during the fourth quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock worth $31,000 after acquiring an additional 683 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of TrustCo Bank Corp NY in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in TrustCo Bank Corp NY by 55.3% in 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 last quarter. CWM LLC raised its position in TrustCo Bank Corp NY by 36.0% during the third quarter. CWM LLC now owns 6,209 shares of the bank’s stock valued at $205,000 after acquiring an additional 1,644 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in TrustCo Bank Corp NY in the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

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.