TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Up 38.0% in March

TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 316,500 shares, an increase of 38.0% from the March 15th total of 229,400 shares. Based on an average trading volume of 91,300 shares, the short-interest ratio is currently 3.5 days. Currently, 1.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in TrustCo Bank Corp NY by 277.3% during the 4th quarter. Invesco Ltd. now owns 248,507 shares of the bank’s stock worth $8,278,000 after buying an additional 182,634 shares in the last quarter. GAMMA Investing LLC raised its position in TrustCo Bank Corp NY by 4,514.3% in the 1st quarter. GAMMA Investing LLC now owns 53,157 shares of the bank’s stock worth $1,744,000 after purchasing an additional 52,005 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of TrustCo Bank Corp NY by 4.3% during the fourth quarter. Systematic Financial Management LP now owns 1,156,983 shares of the bank’s stock valued at $38,539,000 after acquiring an additional 47,422 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of TrustCo Bank Corp NY by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 107,008 shares of the bank’s stock valued at $3,564,000 after purchasing an additional 43,880 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of TrustCo Bank Corp NY by 9.5% during the 4th quarter. American Century Companies Inc. now owns 407,703 shares of the bank’s stock valued at $13,581,000 after acquiring an additional 35,343 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Up 0.2 %

TrustCo Bank Corp NY stock traded up $0.07 during trading hours on Friday, reaching $28.52. 80,521 shares of the company were exchanged, compared to its average volume of 85,697. TrustCo Bank Corp NY has a 12 month low of $25.85 and a 12 month high of $38.89. The stock has a 50-day moving average of $30.79 and a 200 day moving average of $32.89. The firm has a market cap of $542.45 million, a price-to-earnings ratio of 11.10 and a beta of 0.71.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.59 earnings per share 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 announced that its board has authorized a stock buyback program on Tuesday, March 18th that permits the company to buyback 0 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

TrustCo Bank Corp NY Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Friday, March 7th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 56.03%.

About TrustCo Bank Corp NY

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.