TrustCo Bank Corp NY (NASDAQ:TRST) Sees Significant 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. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 93,600 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in TrustCo Bank Corp NY by 263.7% during the fourth quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock valued at $31,000 after purchasing an additional 683 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of TrustCo Bank Corp NY in the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of TrustCo Bank Corp NY by 55.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares in the last quarter. CWM LLC lifted its stake in shares of TrustCo Bank Corp NY by 36.0% during the 3rd quarter. CWM LLC now owns 6,209 shares of the bank’s stock valued at $205,000 after buying an additional 1,644 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in TrustCo Bank Corp NY in the 2nd quarter valued at approximately $219,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

TRST traded up $0.64 during midday trading on Wednesday, reaching $32.43. The company had a trading volume of 98,680 shares, compared to its average volume of 92,798. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $38.89. The business has a 50-day moving average price of $35.21 and a two-hundred day moving average price of $33.62. The stock has a market cap of $616.49 million, a PE ratio of 12.97 and a beta of 0.85.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.68 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 for the quarter. During the same quarter in the previous year, the company posted $0.77 EPS.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.44%. TrustCo Bank Corp NY’s payout ratio 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.