Short Interest in TrustCo Bank Corp NY (TRST) Rises By 80.0%
TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,168,702 shares, an increase of 80.0% from the July 31st total of 649,280 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 304,026 shares, the short-interest ratio is presently 3.8 days.
Separately, BidaskClub cut TrustCo Bank Corp NY from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th.
TrustCo Bank Corp NY (NASDAQ TRST) opened at 7.95 on Friday. TrustCo Bank Corp NY has a 12-month low of $6.60 and a 12-month high of $9.00. The company has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.88. The company has a market cap of $764.00 million, a PE ratio of 17.02 and a beta of 1.17.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. TrustCo Bank Corp NY had a return on equity of 10.24% and a net margin of 24.58%. The firm had revenue of $43.05 million for the quarter. During the same quarter last year, the firm posted $0.11 EPS. On average, analysts forecast that TrustCo Bank Corp NY will post $0.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.0656 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.30%. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 56.52%.
In related news, Director William D. Powers sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $8.00, for a total value of $160,000.00. Following the transaction, the director now owns 90,651 shares in the company, valued at $725,208. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of TrustCo Bank Corp NY by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,740 shares of the bank’s stock valued at $100,000 after buying an additional 711 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of TrustCo Bank Corp NY during the first quarter valued at approximately $100,000. Denver Investment Advisors LLC acquired a new stake in shares of TrustCo Bank Corp NY during the first quarter valued at approximately $101,000. Hartford Investment Management Co. acquired a new stake in shares of TrustCo Bank Corp NY during the first quarter valued at approximately $102,000. Finally, Brown Advisory Securities LLC raised its stake in shares of TrustCo Bank Corp NY by 8.4% in the first quarter. Brown Advisory Securities LLC now owns 13,135 shares of the bank’s stock valued at $103,000 after buying an additional 1,015 shares during the last quarter. Institutional investors own 57.78% of the company’s stock.
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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