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

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 212,700 shares, an increase of 27.9% from the September 30th total of 166,300 shares. Based on an average trading volume of 81,100 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.2% of the company’s stock are short sold.

TrustCo Bank Corp NY Stock Down 1.8 %

TRST opened at $32.49 on Monday. TrustCo Bank Corp NY has a 52-week low of $24.77 and a 52-week high of $36.51. The company has a market cap of $617.63 million, a P/E ratio of 13.00 and a beta of 0.81. The firm’s 50-day moving average price is $33.25 and its 200-day moving average price is $30.63.

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

TrustCo Bank Corp NY Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.36 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.43%. TrustCo Bank Corp NY’s dividend payout ratio is currently 57.60%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of large investors have recently bought and sold shares of TRST. AQR Capital Management LLC boosted its position in TrustCo Bank Corp NY by 31.7% in the second quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock valued at $8,765,000 after buying an additional 73,250 shares during the last quarter. Acadian Asset Management LLC boosted its position in TrustCo Bank Corp NY by 270.4% in the second quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock valued at $2,550,000 after buying an additional 64,751 shares during the last quarter. American Century Companies Inc. boosted its position in TrustCo Bank Corp NY by 17.8% in the 2nd quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares in the last quarter. Bank of New York Mellon Corp boosted its position in TrustCo Bank Corp NY by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock worth $6,998,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Boston Partners purchased a new stake in TrustCo Bank Corp NY in the 1st quarter worth approximately $525,000. 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.