TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 283,600 shares, an increase of 23.3% from the November 30th total of 230,100 shares. Based on an average trading volume of 113,800 shares, the short-interest ratio is currently 2.5 days.

TriCo Bancshares Stock Down 1.2 %

Shares of TCBK stock traded down $0.52 during trading on Friday, reaching $44.03. The company’s stock had a trading volume of 171,601 shares, compared to its average volume of 118,275. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 13.10 and a beta of 0.56. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06. 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 stock’s 50-day moving average price is $46.39 and its 200 day moving average price is $43.70.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, research analysts anticipate that TriCo Bancshares will post 3.38 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s payout ratio is currently 39.29%.

Insider Buying and Selling at TriCo Bancshares

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TriCo Bancshares during the 3rd quarter worth approximately $28,000. Point72 DIFC Ltd acquired a new stake in shares of TriCo Bancshares during the third quarter worth $114,000. Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the third quarter worth $129,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in TriCo Bancshares in the 3rd quarter valued at $210,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in TriCo Bancshares in the 3rd quarter valued at $259,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TCBK. DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price target for the company from $50.00 to $53.00 in a research report on Tuesday, November 12th. Piper Sandler lowered their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, Stephens cut their target price on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.20.

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.