TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Up 33.4% in December

TrustCo Bank Corp NY (NASDAQ:TRST) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 124,500 shares, a growth of 33.4% from the November 30th total of 93,300 shares. Based on an average trading volume of 92,300 shares, the short-interest ratio is presently 1.3 days. Approximately 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in TrustCo Bank Corp NY by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 243,227 shares of the bank’s stock valued at $6,998,000 after buying an additional 19,316 shares during the last quarter. Acadian Asset Management LLC grew its holdings in TrustCo Bank Corp NY by 270.4% during the 2nd quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank’s stock worth $2,550,000 after acquiring an additional 64,751 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of TrustCo Bank Corp NY by 46.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,315 shares of the bank’s stock valued at $700,000 after purchasing an additional 7,665 shares in the last quarter. American Century Companies Inc. lifted its position in shares of TrustCo Bank Corp NY by 17.8% during the second quarter. American Century Companies Inc. now owns 331,049 shares of the bank’s stock worth $9,524,000 after purchasing an additional 50,106 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in 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. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

TrustCo Bank Corp NY Stock Down 1.2 %

Shares of TRST stock traded down $0.39 during mid-day trading on Friday, reaching $33.42. The company’s stock had a trading volume of 60,449 shares, compared to its average volume of 82,298. The company’s 50 day simple moving average is $35.43 and its 200-day simple moving average is $33.16. TrustCo Bank Corp NY has a 12-month low of $25.83 and a 12-month high of $38.89. The firm has a market capitalization of $635.31 million, a PE ratio of 13.37 and a beta of 0.83.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued 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 previous year, the company earned $0.77 EPS.

TrustCo Bank Corp NY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.31%. TrustCo Bank Corp NY’s dividend payout ratio is currently 57.60%.

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.