TrustCo Bank Corp NY (NASDAQ:TRST) Sees Large Drop in Short Interest

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 176,300 shares, a drop of 17.5% from the January 15th total of 213,800 shares. Based on an average daily trading volume, of 94,800 shares, the short-interest ratio is presently 1.9 days. Approximately 1.0% of the shares of the company are sold short.

Institutional Trading of TrustCo Bank Corp NY

Several large investors have recently added to or reduced their stakes in TRST. Wilmington Savings Fund Society FSB bought a new stake in shares of TrustCo Bank Corp NY during the 4th quarter valued at $29,000. Versant Capital Management Inc raised its stake in TrustCo Bank Corp NY by 263.7% during the 4th quarter. Versant Capital Management Inc now owns 942 shares of the bank's stock worth $31,000 after acquiring an additional 683 shares during the period. Capital Performance Advisors LLP purchased a new position in TrustCo Bank Corp NY during the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in TrustCo Bank Corp NY by 55.3% during the third quarter. GAMMA Investing LLC now owns 1,151 shares of the bank's stock valued at $38,000 after purchasing an additional 410 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of TrustCo Bank Corp NY in the fourth quarter worth approximately $91,000. 68.57% of the stock is currently owned by institutional investors.

TrustCo Bank Corp NY Trading Down 0.8 %

NASDAQ:TRST traded down $0.26 during mid-day trading on Wednesday, reaching $33.32. The company's stock had a trading volume of 56,401 shares, compared to its average volume of 81,969. The stock has a market cap of $633.41 million, a P/E ratio of 12.96 and a beta of 0.84. The firm's fifty day moving average price is $33.04 and its two-hundred day moving average price is $33.76. 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 - Get Free Report) last posted its earnings results on Tuesday, January 21st. The bank reported $0.59 EPS for the quarter. TrustCo Bank Corp NY had a net margin of 18.56% and a return on equity of 7.37%.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.32%. TrustCo Bank Corp NY's payout ratio is currently 56.03%.

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.