TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) was the recipient of a large 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 volume of 116,800 shares, the days-to-cover ratio is currently 3.7 days.

TriCo Bancshares Stock Performance

TCBK stock traded down $0.69 during trading on Monday, hitting $43.18. 81,610 shares of the company traded hands, compared to its average volume of 98,735. The stock’s 50-day simple moving average is $45.13 and its 200 day simple moving average is $44.46. 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 has a market cap of $1.43 billion, a PE ratio of 12.48 and a beta of 0.57. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $51.06.

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

TriCo Bancshares Announces Dividend

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total value of $252,297.00. Following the completion of the sale, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This trade represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.64% of the stock is currently owned by company insiders.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TriCo Bancshares in the third quarter valued at approximately $28,000. Point72 DIFC Ltd purchased a new stake in shares of TriCo Bancshares during the third quarter worth approximately $114,000. Quantbot Technologies LP purchased a new stake in shares of TriCo Bancshares during the third quarter worth approximately $129,000. Golden State Wealth Management LLC purchased a new stake in shares of TriCo Bancshares during the fourth quarter worth approximately $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TriCo Bancshares during the third quarter worth approximately $210,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Company Profile

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.