TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Down 17.5% in January

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 176,300 shares, a drop of 17.5% from the January 15th total of 213,800 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 94,800 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On TrustCo Bank Corp NY

A number of large investors have recently bought and sold shares of TRST. Invesco Ltd. raised its stake in shares of TrustCo Bank Corp NY by 277.3% in the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock valued at $8,278,000 after acquiring an additional 182,634 shares during the period. Systematic Financial Management LP raised its stake in shares of TrustCo Bank Corp NY by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock valued at $36,693,000 after acquiring an additional 161,001 shares during the period. Verition Fund Management LLC raised its stake in shares of TrustCo Bank Corp NY by 35.2% in the 3rd quarter. Verition Fund Management LLC now owns 290,208 shares of the bank’s stock valued at $9,597,000 after acquiring an additional 75,594 shares during the period. JPMorgan Chase & Co. raised its stake in shares of TrustCo Bank Corp NY by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank’s stock valued at $3,564,000 after acquiring an additional 43,880 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of TrustCo Bank Corp NY by 9.5% in the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after acquiring an additional 35,343 shares during the period. Hedge funds and other institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST opened at $33.38 on Friday. The firm has a market cap of $634.55 million, a P/E ratio of 12.99 and a beta of 0.84. 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 $33.22 and its 200 day moving average price is $33.79.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio is currently 56.03%.

About TrustCo Bank Corp NY

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.