TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Up 59.8% in December

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 199,000 shares, a growth of 59.8% from the December 15th total of 124,500 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 93,600 shares, the short-interest ratio is currently 2.1 days.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of institutional investors have recently added to or reduced their stakes in TRST. Versant Capital Management Inc lifted its position in shares of TrustCo Bank Corp NY by 263.7% during the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock worth $31,000 after buying an additional 683 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted 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 during the period. CWM LLC boosted its position in TrustCo Bank Corp NY by 36.0% in the third quarter. CWM LLC now owns 6,209 shares of the bank’s stock worth $205,000 after purchasing an additional 1,644 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in TrustCo Bank Corp NY in the second quarter worth $219,000. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Stock Performance

Shares of TrustCo Bank Corp NY stock traded up $0.64 on Wednesday, hitting $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 1 year low of $25.83 and a 1 year high of $38.89. The stock has a 50 day moving average of $35.21 and a 200-day moving average of $33.62. The stock has a market capitalization of $616.49 million, a price-to-earnings ratio of 12.97 and a beta of 0.85.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.68 EPS for the quarter. The business had revenue of $66.00 million during 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 previous year, the company posted $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

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