TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 429,300 shares, a growth of 27.8% from the December 31st total of 336,000 shares. Based on an average daily trading volume, of 116,800 shares, the short-interest ratio is presently 3.7 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TCBK shares. Stephens decreased their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a report on Tuesday, January 28th. Piper Sandler cut their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.75.

Insiders Place Their Bets

In other news, Director Cory W. Giese sold 5,100 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the transaction, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. This represents a 45.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.64% of the stock is currently owned by corporate insiders.

Institutional Trading of TriCo Bancshares

Several hedge funds have recently modified their holdings of TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at approximately $28,000. Point72 DIFC Ltd acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares in the 3rd quarter valued at approximately $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TriCo Bancshares in the 3rd quarter valued at approximately $210,000. Finally, Golden State Wealth Management LLC purchased a new position in TriCo Bancshares in the 4th quarter valued at approximately $212,000. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Stock Down 1.6 %

Shares of TCBK traded down $0.69 during mid-day trading on Monday, reaching $43.18. The company’s stock had a trading volume of 81,610 shares, compared to its average volume of 98,735. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The stock has a market cap of $1.43 billion, a PE ratio of 12.48 and a beta of 0.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day moving average is $45.13 and its 200 day moving average is $44.46.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Equities analysts anticipate that TriCo Bancshares will post 3.33 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.33 per share. The ex-dividend date was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. TriCo Bancshares’s payout ratio is 38.15%.

About TriCo Bancshares

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.