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

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) was the target of a large 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. Currently, 1.1% of the company's shares are short sold. Based on an average trading volume of 82,000 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of TrustCo Bank Corp NY from a "hold" rating to a "sell" rating in a research note on Tuesday, January 23rd.

TrustCo Bank Corp NY Stock Up 0.2 %

NASDAQ TRST traded up $0.06 on Friday, hitting $26.25. 52,211 shares of the stock were exchanged, compared to its average volume of 74,231. TrustCo Bank Corp NY has a fifty-two week low of $23.78 and a fifty-two week high of $32.10. The company has a market cap of $499.28 million, a PE ratio of 8.52 and a beta of 0.84. The company has a 50-day moving average price of $27.44 and a 200-day moving average price of $28.07.

TrustCo Bank Corp NY (NASDAQ:TRST - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.14). TrustCo Bank Corp NY had a return on equity of 9.36% and a net margin of 23.98%. The firm had revenue of $63.11 million for the quarter, compared to analyst estimates of $44.90 million. During the same quarter last year, the firm earned $1.10 EPS. As a group, equities research analysts predict that TrustCo Bank Corp NY will post 2.54 EPS for the current fiscal year.

TrustCo Bank Corp NY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.49%. The ex-dividend date was Thursday, February 29th. TrustCo Bank Corp NY's dividend payout ratio (DPR) is presently 46.75%.

Insider Activity

In related news, COO Kevin M. Curley purchased 916 shares of TrustCo Bank Corp NY stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $27.30 per share, with a total value of $25,006.80. Following the purchase, the chief operating officer now owns 34,766 shares of the company's stock, valued at $949,111.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TrustCo Bank Corp NY news, COO Kevin M. Curley bought 916 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $27.30 per share, with a total value of $25,006.80. Following the purchase, the chief operating officer now directly owns 34,766 shares in the company, valued at $949,111.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric W. Schreck bought 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $28.44 per share, for a total transaction of $28,440.00. Following the completion of the purchase, the executive vice president now owns 41,407 shares in the company, valued at $1,177,615.08. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,879 shares of company stock valued at $80,023. Company insiders own 3.26% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of TrustCo Bank Corp NY by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,836,175 shares of the bank's stock valued at $90,558,000 after buying an additional 32,718 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TrustCo Bank Corp NY by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 1,352,121 shares of the bank's stock valued at $43,173,000 after buying an additional 50,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TrustCo Bank Corp NY by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the bank's stock valued at $36,836,000 after buying an additional 33,892 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of TrustCo Bank Corp NY by 0.5% in the 2nd quarter. State Street Corp now owns 866,340 shares of the bank's stock valued at $25,089,000 after buying an additional 4,418 shares in the last quarter. Institutional investors and hedge funds own 68.57% of the company's stock.

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.