TrustCo Bank Corp NY (TRST) Short Interest Update
TrustCo Bank Corp NY (NASDAQ:TRST) was the recipient of a large decline in short interest in 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. Currently, 1.0% of the shares of the company are short sold.
Shares of TrustCo Bank Corp NY (TRST) opened at 8.25 on Wednesday. TrustCo Bank Corp NY has a 12 month low of $6.60 and a 12 month high of $9.00. The company has a market cap of $792.83 million, a P/E ratio of 17.67 and a beta of 1.18. The stock’s 50 day moving average is $7.89 and its 200-day moving average is $7.83.
TrustCo Bank Corp NY (NASDAQ:TRST) last issued its earnings results on Friday, July 21st. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. TrustCo Bank Corp NY had a net margin of 24.58% and a return on equity of 10.24%. The firm had revenue of $43.05 million during the quarter. During the same period last year, the business earned $0.11 EPS. On average, equities analysts forecast that TrustCo Bank Corp NY will post $0.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.0656 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.26 annualized dividend and a dividend yield of 3.18%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 56.52%.
Separately, BidaskClub raised shares of TrustCo Bank Corp NY from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th.
In other news, Director William D. Powers sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $8.00, for a total transaction of $160,000.00. Following the completion of the sale, the director now owns 90,651 shares of the company’s stock, valued at approximately $725,208. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
Several institutional investors have recently modified their holdings of TRST. Teachers Advisors LLC raised its holdings in shares of TrustCo Bank Corp NY by 44.9% during the fourth quarter. Teachers Advisors LLC now owns 252,887 shares of the bank’s stock worth $2,213,000 after purchasing an additional 78,417 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of 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 worth $1,279,000 after purchasing an additional 46,290 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of TrustCo Bank Corp NY by 1.3% during the first quarter. Louisiana State Employees Retirement System now owns 39,000 shares of the bank’s stock worth $306,000 after purchasing an additional 500 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of TrustCo Bank Corp NY by 7.4% during the first quarter. Nisa Investment Advisors LLC now owns 24,550 shares of the bank’s stock worth $193,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of TrustCo Bank Corp NY by 10.6% during the first quarter. Wells Fargo & Company MN now owns 113,841 shares of the bank’s stock worth $893,000 after purchasing an additional 10,873 shares during the last quarter. 57.78% of the stock is owned by hedge funds and other institutional investors.
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TrustCo Bank Corp NY Company Profile
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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