TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Up 27.9% in October

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 212,700 shares, an increase of 27.9% from the September 30th total of 166,300 shares. Based on an average daily trading volume, of 81,100 shares, the short-interest ratio is currently 2.6 days. Currently, 1.2% of the company’s shares are short sold.

Institutional Investors Weigh In On TrustCo Bank Corp NY

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of TrustCo Bank Corp NY by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,325,803 shares of the bank’s stock worth $37,335,000 after acquiring an additional 14,183 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 worth $34,588,000 after purchasing an additional 11,096 shares in the last quarter. Systematic Financial Management LP increased its holdings in TrustCo Bank Corp NY by 0.7% during the 2nd quarter. Systematic Financial Management LP now owns 948,560 shares of the bank’s stock worth $27,290,000 after purchasing an additional 6,839 shares during the period. American Century Companies Inc. raised its position in TrustCo Bank Corp NY by 17.8% in the 2nd 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 in the last quarter. Finally, AQR Capital Management LLC boosted its stake 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 buying an additional 73,250 shares during the period. 68.57% of the stock is currently owned by institutional investors and hedge funds.

TrustCo Bank Corp NY Stock Performance

Shares of NASDAQ TRST traded down $0.09 during trading on Tuesday, reaching $33.37. The stock had a trading volume of 42,731 shares, compared to its average volume of 78,939. The company has a market cap of $634.36 million, a P/E ratio of 13.38 and a beta of 0.81. TrustCo Bank Corp NY has a fifty-two week low of $25.18 and a fifty-two week high of $36.51. The business’s 50-day moving average price is $33.26 and its 200-day moving average price is $30.68.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its earnings results on Monday, October 21st. The bank reported $0.68 earnings per share for the quarter. The company 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 prior year, the firm earned $0.77 earnings per share.

TrustCo Bank Corp NY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, September 6th. 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.