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

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 211,900 shares, an increase of 20.2% from the January 31st total of 176,300 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 91,600 shares, the short-interest ratio is currently 2.3 days.

TrustCo Bank Corp NY Price Performance

TRST stock opened at $31.49 on Thursday. TrustCo Bank Corp NY has a 12 month low of $25.83 and a 12 month high of $38.89. The firm’s 50-day moving average is $32.56 and its 200 day moving average is $33.78. The company has a market capitalization of $598.62 million, a PE ratio of 12.25 and a beta of 0.84.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Tuesday, January 21st. The bank reported $0.59 EPS 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, March 7th. TrustCo Bank Corp NY’s payout ratio is 56.03%.

Hedge Funds Weigh In On TrustCo Bank Corp NY

Several institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in TrustCo Bank Corp NY during the 4th quarter worth about $29,000. Versant Capital Management Inc lifted its position in shares of TrustCo Bank Corp NY by 263.7% in the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock worth $31,000 after purchasing an additional 683 shares during the period. Capital Performance Advisors LLP bought a new position in shares of TrustCo Bank Corp NY during the third quarter valued at approximately $33,000. R Squared Ltd purchased a new position in TrustCo Bank Corp NY during the fourth quarter valued at approximately $91,000. Finally, Cubist Systematic Strategies LLC bought a new position in TrustCo Bank Corp NY in the fourth quarter worth approximately $93,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

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.