TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Update

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 166,300 shares, a drop of 28.4% from the September 15th total of 232,400 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 84,500 shares, the short-interest ratio is currently 2.0 days.

TrustCo Bank Corp NY Stock Performance

Shares of TRST stock traded up $0.50 during trading on Monday, hitting $33.29. The company had a trading volume of 59,858 shares, compared to its average volume of 78,786. The firm has a market capitalization of $632.84 million, a P/E ratio of 12.85 and a beta of 0.81. The stock’s 50-day moving average price is $33.04 and its 200 day moving average price is $30.24. TrustCo Bank Corp NY has a one year low of $23.78 and a one year high of $36.51.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.66 EPS for the quarter, beating the consensus estimate of $0.53 by $0.13. The business had revenue of $66.24 million during the quarter, compared to the consensus estimate of $40.94 million. TrustCo Bank Corp NY had a net margin of 19.22% and a return on equity of 7.65%. During the same period in the previous year, the business earned $0.86 earnings per share.

TrustCo Bank Corp NY Announces Dividend

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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.33%. TrustCo Bank Corp NY’s dividend payout ratio is currently 55.60%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Monday, June 17th.

Institutional Trading of TrustCo Bank Corp NY

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRST. PNC Financial Services Group Inc. increased its position in TrustCo Bank Corp NY by 12.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,903 shares of the bank’s stock valued at $307,000 after buying an additional 1,068 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of TrustCo Bank Corp NY by 26.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the bank’s stock worth $51,000 after acquiring an additional 378 shares during the last quarter. Graypoint LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 1st quarter worth about $336,000. Empowered Funds LLC raised its holdings in shares of TrustCo Bank Corp NY by 8.1% in the 1st quarter. Empowered Funds LLC now owns 63,138 shares of the bank’s stock worth $1,778,000 after acquiring an additional 4,725 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 worth $37,335,000 after acquiring an additional 14,183 shares during the last quarter. 68.57% of the stock is 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.