TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Down 48.1% in November

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 115,900 shares, a drop of 48.1% from the October 31st total of 223,300 shares. Based on an average daily volume of 80,200 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRST. Vanguard Group Inc. raised its holdings in TrustCo Bank Corp NY by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock valued at $37,335,000 after acquiring an additional 14,183 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in TrustCo Bank Corp NY by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,556 shares of the bank’s stock valued at $354,000 after acquiring an additional 662 shares in the last quarter. Boston Partners acquired a new position in TrustCo Bank Corp NY in the 1st quarter valued at $525,000. CWM LLC raised its holdings in TrustCo Bank Corp NY by 547.5% in the 2nd quarter. CWM LLC now owns 4,565 shares of the bank’s stock valued at $131,000 after acquiring an additional 3,860 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 valued at $6,998,000 after acquiring an additional 19,316 shares in the last quarter. 68.57% of the stock is owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST traded down $0.32 during mid-day trading on Friday, hitting $37.24. 54,469 shares of the stock were exchanged, compared to its average volume of 79,207. The stock has a market capitalization of $707.93 million, a price-to-earnings ratio of 14.90 and a beta of 0.81. The firm’s 50-day simple moving average is $34.36 and its 200 day simple moving average is $32.09. 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 released its quarterly earnings results on Monday, October 21st. The bank reported $0.68 earnings per share 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 business posted $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 annualized dividend and a yield of 3.87%. 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.