TrustCo Bank Corp NY (NASDAQ:TRST) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 2,782,300 shares, a decline of 16.9% from the June 30th total of 3,347,600 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 232,700 shares, the days-to-cover ratio is currently 12.0 days.
A number of equities analysts recently weighed in on TRST shares. BidaskClub raised TrustCo Bank Corp NY from a “sell” rating to a “hold” rating in a report on Friday, June 28th. GMP Securities reaffirmed a “hold” rating and issued a $6.00 price target on shares of TrustCo Bank Corp NY in a report on Thursday, July 11th.
In other news, Director William D. Powers sold 10,850 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $7.50, for a total value of $81,375.00. Following the completion of the transaction, the director now owns 54,800 shares of the company’s stock, valued at approximately $411,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.64% of the company’s stock.
NASDAQ TRST traded down $0.03 during trading hours on Thursday, reaching $7.64. The company’s stock had a trading volume of 89,300 shares, compared to its average volume of 237,762. The stock has a market capitalization of $758.81 million, a price-to-earnings ratio of 12.43 and a beta of 1.11. TrustCo Bank Corp NY has a 1-year low of $6.51 and a 1-year high of $9.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.95 and a quick ratio of 0.96. The firm has a 50-day moving average price of $7.95.
TrustCo Bank Corp NY (NASDAQ:TRST) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $44.11 million during the quarter. TrustCo Bank Corp NY had a return on equity of 12.19% and a net margin of 29.19%.
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, partnerships, and corporations. The company is primarily involved in accepting deposits, and making 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.
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