TrustCo Bank Corp NY (NASDAQ:TRST) Short Interest Update

TrustCo Bank Corp NY (NASDAQ:TRST) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 202,400 shares, a decline of 19.0% from the March 15th total of 249,900 shares. Based on an average daily volume of 82,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.1% of the company’s shares are sold short.

Insider Buying and Selling at TrustCo Bank Corp NY

In other news, EVP Eric W. Schreck bought 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $28.44 per share, with a total value of $28,440.00. Following the completion of the transaction, the executive vice president now directly owns 41,407 shares in the company, valued at $1,177,615.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Kevin M. Curley acquired 916 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $27.30 per share, with a total value of $25,006.80. Following the completion of the transaction, the chief operating officer now owns 34,766 shares of the company’s stock, valued at $949,111.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Eric W. Schreck acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the transaction, the executive vice president now directly owns 41,407 shares of the company’s stock, valued at approximately $1,177,615.08. The disclosure for this purchase can be found here. Insiders have bought a total of 2,879 shares of company stock valued at $80,023 over the last quarter. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in TrustCo Bank Corp NY in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of TrustCo Bank Corp NY in the 1st quarter valued at about $30,000. Lazard Asset Management LLC acquired a new stake in shares of TrustCo Bank Corp NY in the 1st quarter valued at about $34,000. Captrust Financial Advisors boosted its position in shares of TrustCo Bank Corp NY by 104.4% in the 1st quarter. Captrust Financial Advisors now owns 1,114 shares of the bank’s stock valued at $36,000 after purchasing an additional 569 shares during the period. Finally, FMR LLC boosted its position in shares of TrustCo Bank Corp NY by 49.2% in the 1st quarter. FMR LLC now owns 1,216 shares of the bank’s stock valued at $39,000 after purchasing an additional 401 shares during the period. Institutional investors and hedge funds own 68.57% of the company’s stock.

TrustCo Bank Corp NY Trading Up 0.2 %

Shares of TRST stock opened at $26.25 on Monday. The firm has a fifty day moving average price of $27.44 and a 200 day moving average price of $28.08. The company has a market cap of $499.28 million, a P/E ratio of 8.52 and a beta of 0.84. TrustCo Bank Corp NY has a 12 month low of $23.78 and a 12 month high of $32.10.

TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.14). The business had revenue of $63.11 million for the quarter, compared to analyst estimates of $44.90 million. TrustCo Bank Corp NY had a return on equity of 9.36% and a net margin of 23.98%. During the same period in the prior year, the company posted $1.10 earnings per share. On average, equities analysts forecast that TrustCo Bank Corp NY will post 2.54 EPS for the current year.

TrustCo Bank Corp NY Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.36 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.44 annualized dividend and a dividend yield of 5.49%. TrustCo Bank Corp NY’s dividend payout ratio is presently 46.75%.

Analyst Ratings Changes

Separately, StockNews.com lowered TrustCo Bank Corp NY from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd.

TrustCo Bank Corp NY Company Profile

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.