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

TrustCo Bank Corp NY (NASDAQ:TRST) saw a significant drop in short interest in 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 days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are short sold.

TrustCo Bank Corp NY Stock Performance

TrustCo Bank Corp NY stock traded down $0.32 during midday trading on Friday, reaching $37.24. The stock had a trading volume of 54,469 shares, compared to its average volume of 79,207. The firm’s fifty day simple moving average is $34.36 and its 200-day simple moving average is $32.09. TrustCo Bank Corp NY has a 1-year low of $25.83 and a 1-year high of $38.89. The stock has a market capitalization of $707.93 million, a P/E ratio of 14.90 and a beta of 0.81.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $66.00 million for 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 prior year, the business posted $0.77 EPS.

TrustCo Bank Corp NY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.36 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.87%. TrustCo Bank Corp NY’s dividend payout ratio is 57.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRST. Capital Performance Advisors LLP bought a new position in shares of TrustCo Bank Corp NY during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its stake in shares of TrustCo Bank Corp NY by 55.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,151 shares of the bank’s stock worth $38,000 after acquiring an additional 410 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of TrustCo Bank Corp NY by 577.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after acquiring an additional 2,508 shares during the period. CWM LLC boosted its stake in shares of TrustCo Bank Corp NY by 547.5% during the 2nd quarter. CWM LLC now owns 4,565 shares of the bank’s stock worth $131,000 after acquiring an additional 3,860 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new position in shares of TrustCo Bank Corp NY during the 3rd quarter worth approximately $222,000. 68.57% of the stock is currently owned by institutional investors.

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.