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

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 115,900 shares, a decline of 48.1% from the October 31st total of 223,300 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 80,200 shares, the days-to-cover ratio is currently 1.4 days.

TrustCo Bank Corp NY Stock Down 0.0 %

NASDAQ TRST opened at $37.56 on Thursday. The company has a market cap of $714.02 million, a price-to-earnings ratio of 15.03 and a beta of 0.81. TrustCo Bank Corp NY has a 52 week low of $25.83 and a 52 week high of $38.89. The business has a 50 day moving average price of $34.15 and a 200-day moving average price of $31.94.

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

TrustCo Bank Corp NY Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 annualized dividend and a yield of 3.83%. TrustCo Bank Corp NY’s dividend payout ratio is currently 57.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRST. Capital Performance Advisors LLP purchased a new position in TrustCo Bank Corp NY in the third quarter worth $33,000. GAMMA Investing LLC boosted its position 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 purchasing an additional 410 shares during the last quarter. Meeder Asset Management Inc. boosted its position in TrustCo Bank Corp NY by 577.9% in the second 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 during the last quarter. CWM LLC boosted its position in TrustCo Bank Corp NY by 547.5% in the second quarter. CWM LLC now owns 4,565 shares of the bank’s stock worth $131,000 after purchasing an additional 3,860 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of TrustCo Bank Corp NY during the 2nd quarter valued at $219,000. Hedge funds and other institutional investors 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.