TrustCo Bank Corp NY (TRST) Short Interest Update
TrustCo Bank Corp NY (NASDAQ:TRST) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 899,843 shares, a decline of 23.0% from the August 15th total of 1,168,702 shares. Based on an average trading volume of 411,489 shares, the short-interest ratio is presently 2.2 days. Approximately 1.0% of the shares of the stock are sold short.
Shares of TrustCo Bank Corp NY (NASDAQ TRST) opened at 8.05 on Friday. TrustCo Bank Corp NY has a one year low of $6.60 and a one year high of $9.00. The firm has a 50-day moving average of $7.90 and a 200-day moving average of $7.84. The company has a market capitalization of $773.61 million, a P/E ratio of 17.24 and a beta of 1.18.
TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $43.05 million for the quarter. TrustCo Bank Corp NY had a net margin of 24.58% and a return on equity of 10.24%. During the same period in the previous year, the business earned $0.11 earnings per share. Analysts forecast that TrustCo Bank Corp NY will post $0.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a dividend of $0.0656 per share. This represents a $0.26 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, August 30th. TrustCo Bank Corp NY’s payout ratio is 56.52%.
In other TrustCo Bank Corp NY news, Director William D. Powers sold 20,000 shares of TrustCo Bank Corp NY stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $8.00, for a total value of $160,000.00. Following the sale, the director now directly owns 90,651 shares in the company, valued at approximately $725,208. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Mason Street Advisors LLC lifted its holdings in TrustCo Bank Corp NY by 7.2% during the first quarter. Mason Street Advisors LLC now owns 22,416 shares of the bank’s stock valued at $176,000 after purchasing an additional 1,503 shares in the last quarter. Bank of Montreal Can lifted its holdings in TrustCo Bank Corp NY by 39.7% during the first quarter. Bank of Montreal Can now owns 162,988 shares of the bank’s stock valued at $1,279,000 after purchasing an additional 46,290 shares in the last quarter. HighTower Advisors LLC lifted its holdings in TrustCo Bank Corp NY by 132.8% during the first quarter. HighTower Advisors LLC now owns 41,214 shares of the bank’s stock valued at $322,000 after purchasing an additional 23,514 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in TrustCo Bank Corp NY by 2.2% during the first quarter. Municipal Employees Retirement System of Michigan now owns 21,870 shares of the bank’s stock valued at $172,000 after purchasing an additional 480 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in TrustCo Bank Corp NY by 40.5% during the second quarter. Aperio Group LLC now owns 105,415 shares of the bank’s stock valued at $817,000 after purchasing an additional 30,401 shares in the last quarter. 57.78% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub downgraded shares of TrustCo Bank Corp NY from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th.
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About TrustCo Bank Corp NY
TrustCo Bank Corp NY is a savings and loan holding company. The Company’s principal subsidiary is Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals, partnerships and corporations. It operates through community banking segment. The Bank’s business consists of accepting deposits and making loans and investments.
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