TrustCo Bank Corp NY (TRST) Short Interest Update

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,434,150 shares, an increase of 45.2% from the November 30th total of 987,630 shares. Based on an average daily trading volume, of 502,587 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the company’s stock are short sold.

In related news, Director William D. Powers sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $9.52, for a total transaction of $47,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $105,000. CAPROCK Group Inc. purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $106,000. Susquehanna International Group LLP purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $136,000. SG Americas Securities LLC purchased a new stake in shares of TrustCo Bank Corp NY in the third quarter worth approximately $140,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of TrustCo Bank Corp NY in the second quarter worth approximately $163,000. 58.71% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on TRST. Sandler O’Neill set a $10.00 price target on TrustCo Bank Corp NY and gave the stock a “hold” rating in a research note on Wednesday. Canaccord Genuity reaffirmed a “speculative buy” rating and set a $7.25 price target on shares of TrustCo Bank Corp NY in a research note on Wednesday, October 18th. Finally, BidaskClub downgraded TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th.

TrustCo Bank Corp NY (NASDAQ:TRST) opened at $8.75 on Friday. TrustCo Bank Corp NY has a 52 week low of $7.25 and a 52 week high of $9.70. The firm has a market capitalization of $855.36, a P/E ratio of 18.23 and a beta of 1.19.

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. TrustCo Bank Corp NY had a return on equity of 10.51% and a net margin of 25.16%. The business had revenue of $44.03 million for the quarter. During the same period last year, the company posted $0.11 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were paid a dividend of $65625.00 per share. This is an increase from TrustCo Bank Corp NY’s previous quarterly dividend of $0.07. This represents a $262,500.00 dividend on an annualized basis and a yield of 3,000,000.00%. The ex-dividend date of this dividend was Thursday, November 30th. TrustCo Bank Corp NY’s dividend payout ratio is 54.17%.

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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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