Significant Rise in Short Interest for TrustCo Bank Corp NY (NASDAQ:TRST)

TrustCo Bank Corp NY (NASDAQ:TRST) has experienced a notable increase in short interest throughout December. By December 15th, the short interest reached a total of 124,500 shares, which marks a 33.4% rise compared to the November 30th figure of 93,300 shares. Currently, around 0.7% of the company's total shares are sold short. Given the average trading volume of 92,300 shares, the short-interest ratio stands at 1.3 days.

TrustCo Bank Corp NY Stock Movement

On Friday, shares of TrustCo Bank Corp NY traded down by 1.2%, decreasing by $0.39 to a price of $33.42. In total, 60,449 shares changed hands, a bit lower than its average volume of 82,298. The bank's stock has seen a 52-week low of $25.83 and a high of $38.89. Its 50-day moving average is posted at $35.43, while the 200-day moving average sits at $33.16. TrustCo Bank Corp NY holds a market capitalization of $635.31 million, a price-to-earnings ratio of 13.37, and a beta of 0.83.

Recent Earnings Report

TrustCo Bank Corp NY recently released its earnings report on October 21st. The bank announced earnings of $0.68 per share (EPS) for the quarter, with revenue totaling $66 million. The bank reported a net margin of 18.24% and a return on equity of 7.24%. In the same period last year, the bank's earnings were $0.77 EPS.

Dividend Announcement for Shareholders

Additionally, TrustCo Bank Corp NY has disclosed a quarterly dividend payout, scheduled for January 2nd. Shareholders recorded by December 6th will receive a dividend of $0.36, equating to an annualized dividend of $1.44 and a yield of 4.31%. The ex-dividend date was set for December 6th, and the current dividend payout ratio stands at 57.60%.

Institutional Investors' Involvement

Recently, several institutional investors have adjusted their stakes in TrustCo Bank Corp NY. For example, Capital Performance Advisors LLP acquired a new position in the bank during the 3rd quarter valued around $33,000. GAMMA Investing LLC increased its stake by 55.3%, now owning 1,151 shares valued at $38,000 after purchasing an additional 410 shares. Meeder Asset Management Inc. expanded its holdings by 577.9% in the 2nd quarter, now having 2,942 shares valued at $85,000 after an additional investment of 2,508 shares. CWM LLC raised its position by 36.0%, resulting in ownership of 6,209 shares valued at $205,000 after acquiring an additional 1,644 shares during the period. Lastly, The Manufacturers Life Insurance Company acquired a new stake during the 2nd quarter worth $219,000. Overall, institutional investors control approximately 68.57% of TrustCo Bank Corp NY's shares.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank delivering personal and business banking services. The company accepts deposits, offers loans, and manages investments. Furthermore, it acts as a real estate investment trust that acquires and administrates mortgage assets, including residential loans and mortgage-backed securities.

TrustCo, Bank, NASDAQ