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

TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 199,000 shares, a growth of 59.8% from the December 15th total of 124,500 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 93,600 shares, the days-to-cover ratio is currently 2.1 days.

TrustCo Bank Corp NY Price Performance

Shares of NASDAQ:TRST opened at $32.06 on Friday. The stock has a market capitalization of $609.46 million, a P/E ratio of 12.82 and a beta of 0.85. The business has a 50-day moving average of $35.03 and a two-hundred day moving average of $33.60. 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 posted its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 7.24% and a net margin of 18.24%. The firm had revenue of $66.00 million during the quarter. During the same quarter last year, the firm posted $0.77 earnings per share.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.36 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.49%. TrustCo Bank Corp NY’s payout ratio is presently 57.60%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in TrustCo Bank Corp NY by 263.7% during the fourth quarter. Versant Capital Management Inc now owns 942 shares of the bank’s stock valued at $31,000 after acquiring an additional 683 shares during the period. Capital Performance Advisors LLP bought a new stake in TrustCo Bank Corp NY during the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in TrustCo Bank Corp NY by 55.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares during the last quarter. CWM LLC increased its position in TrustCo Bank Corp NY by 36.0% in the 3rd quarter. CWM LLC now owns 6,209 shares of the bank’s stock worth $205,000 after buying an additional 1,644 shares during the period. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of TrustCo Bank Corp NY during the third quarter worth approximately $222,000. 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.