Short Interest in TrustCo Bank Corp NY (NASDAQ:TRST) Grows By 27.9%

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) was the recipient of a significant increase in short interest in 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. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 81,100 shares, the short-interest ratio is currently 2.6 days.

TrustCo Bank Corp NY Stock Performance

TRST stock traded up $0.97 during trading on Monday, reaching $33.46. 57,445 shares of the company were exchanged, compared to its average volume of 79,100. The company has a market cap of $636.07 million, a P/E ratio of 13.33 and a beta of 0.81. TrustCo Bank Corp NY has a 52-week low of $25.18 and a 52-week high of $36.51. The stock's 50 day moving average price is $33.25 and its 200 day moving average price is $30.63.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.68 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 18.24% and a return on equity of 7.24%. The firm had revenue of $66.00 million for the quarter. During the same period in the prior year, the firm posted $0.77 EPS.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, September 6th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 57.60%.

Institutional Trading of TrustCo Bank Corp NY

Several institutional investors and hedge funds have recently modified their holdings of TRST. AQR Capital Management LLC raised its position in shares of TrustCo Bank Corp NY by 31.7% in the second 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 last quarter. Acadian Asset Management LLC raised its position in shares of TrustCo Bank Corp NY by 270.4% in the second quarter. Acadian Asset Management LLC now owns 88,701 shares of the bank's stock valued at $2,550,000 after buying an additional 64,751 shares during the last quarter. American Century Companies Inc. raised its position in shares of TrustCo Bank Corp NY by 17.8% in the second quarter. American Century Companies Inc. now owns 331,049 shares of the bank's stock valued at $9,524,000 after buying an additional 50,106 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of TrustCo Bank Corp NY by 8.6% in the second 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. Finally, Boston Partners acquired a new position in shares of TrustCo Bank Corp NY in the first quarter valued at approximately $525,000. Hedge funds and other 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.