Short Interest in TrustCo Bank Corp NY (NASDAQ:TRST) Decreases By 19.5%

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 93,300 shares, a decrease of 19.5% from the November 15th total of 115,900 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 81,100 shares, the days-to-cover ratio is currently 1.2 days.

TrustCo Bank Corp NY Price Performance

NASDAQ:TRST opened at $36.79 on Friday. The firm has a market capitalization of $699.38 million, a P/E ratio of 14.72 and a beta of 0.83. The business has a 50 day simple moving average of $35.16 and a 200 day simple moving average of $32.67. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $38.89.

TrustCo Bank Corp NY (NASDAQ:TRST) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.68 earnings per share (EPS) for the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The company had revenue of $66.00 million during the quarter. During the same period last year, the firm posted $0.77 EPS.

TrustCo Bank Corp NY Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, December 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is 57.60%.

Institutional Investors Weigh In On TrustCo Bank Corp NY

Hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in TrustCo Bank Corp NY in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its position in 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. grew its stake in shares of TrustCo Bank Corp NY by 577.9% in the second quarter. Meeder Asset Management Inc. now owns 2,942 shares of the bank’s stock worth $85,000 after purchasing an additional 2,508 shares in the last quarter. CWM LLC increased its holdings in shares of TrustCo Bank Corp NY by 547.5% during the second quarter. CWM LLC now owns 4,565 shares of the bank’s stock valued at $131,000 after purchasing an additional 3,860 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 valued at $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.