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

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a significant increase in short interest in the month of 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 short-interest ratio is currently 2.1 days. Approximately 1.1% of the company’s stock are sold short.

TrustCo Bank Corp NY Stock Down 1.0 %

TRST traded down $0.34 during trading on Thursday, hitting $32.09. The company had a trading volume of 18,676 shares, compared to its average volume of 85,251. The company has a market capitalization of $610.03 million, a PE ratio of 12.84 and a beta of 0.85. TrustCo Bank Corp NY has a one year low of $25.83 and a one year high of $38.89. The firm’s 50-day moving average price is $35.11 and its 200 day moving average price is $33.61.

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 company 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 quarter last year, the firm earned $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis 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 presently 57.60%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TRST. Versant Capital Management Inc increased its stake in TrustCo Bank Corp NY by 263.7% in the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock valued at $31,000 after buying an additional 683 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of TrustCo Bank Corp NY in the third quarter valued at about $33,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 410 shares in the last quarter. CWM LLC raised its holdings in TrustCo Bank Corp NY by 36.0% during the third quarter. CWM LLC now owns 6,209 shares of the bank’s stock worth $205,000 after acquiring an additional 1,644 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in TrustCo Bank Corp NY during 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.