TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Down 28.4% in September

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

Analyst Ratings Changes

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

TrustCo Bank Corp NY Stock Up 2.7 %

Shares of TRST traded up $0.87 during trading hours on Friday, reaching $32.79. The stock had a trading volume of 99,646 shares, compared to its average volume of 85,075. The firm has a 50-day moving average of $33.02 and a 200 day moving average of $30.20. The company has a market cap of $623.34 million, a P/E ratio of 12.66 and a beta of 0.81. TrustCo Bank Corp NY has a 52 week low of $23.78 and a 52 week high of $36.51.

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

TrustCo Bank Corp NY Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, September 6th. TrustCo Bank Corp NY’s dividend payout ratio is presently 55.60%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 valued at $51,000 after purchasing an additional 378 shares during the last quarter. Meeder Asset Management Inc. raised its holdings 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 buying an additional 2,508 shares in the last quarter. CWM LLC lifted its position 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 buying an additional 3,860 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in TrustCo Bank Corp NY in the second quarter valued at about $219,000. Institutional investors own 68.57% of the company’s stock.

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.