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

TrustCo Bank Corp NY (NASDAQ:TRST) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 124,500 shares, an increase of 33.4% from the November 30th total of 93,300 shares. Based on an average trading volume of 92,300 shares, the short-interest ratio is presently 1.3 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Trading of TrustCo Bank Corp NY

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of TrustCo Bank Corp NY by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,202,262 shares of the bank’s stock valued at $34,588,000 after acquiring an additional 11,096 shares during the last quarter. Systematic Financial Management LP raised its position in shares of TrustCo Bank Corp NY by 17.0% during the third quarter. Systematic Financial Management LP now owns 1,109,561 shares of the bank’s stock worth $36,693,000 after purchasing an additional 161,001 shares during the period. Geode Capital Management LLC lifted its holdings in shares of TrustCo Bank Corp NY by 1.4% during the third quarter. Geode Capital Management LLC now owns 442,783 shares of the bank’s stock valued at $14,646,000 after purchasing an additional 6,249 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of TrustCo Bank Corp NY by 17.8% during the second quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock valued at $9,524,000 after purchasing an additional 50,106 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of TrustCo Bank Corp NY by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 304,658 shares of the bank’s stock valued at $8,765,000 after purchasing an additional 73,250 shares during the period. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ TRST traded down $0.39 during mid-day trading on Friday, reaching $33.42. 60,449 shares of the company traded hands, compared to its average volume of 82,298. The stock has a fifty day simple moving average of $35.43 and a 200-day simple moving average of $33.16. The firm has a market cap of $635.31 million, a PE ratio of 13.37 and a beta of 0.83. TrustCo Bank Corp NY has a fifty-two week low of $25.83 and a fifty-two week high of $38.89.

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. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The firm had revenue of $66.00 million for the quarter. During the same quarter last year, the firm posted $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 57.60%.

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.