TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) was the target of a large increase in short interest in 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 daily volume of 113,800 shares, the days-to-cover ratio is currently 2.5 days.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction of $252,297.00. Following the completion of the transaction, the director now owns 6,128 shares of the company’s stock, valued at $303,152.16. The trade was a 45.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of TriCo Bancshares by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after buying an additional 25,817 shares during the period. Geode Capital Management LLC raised its position in shares of TriCo Bancshares by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock worth $33,344,000 after buying an additional 5,155 shares during the period. Barclays PLC boosted its holdings in TriCo Bancshares by 127.0% in the third quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock valued at $2,468,000 after acquiring an additional 32,379 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in TriCo Bancshares during the third quarter valued at about $259,000. Finally, Stifel Financial Corp increased its stake in TriCo Bancshares by 2.2% during the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after acquiring an additional 1,013 shares during the last quarter. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

TriCo Bancshares Price Performance

TCBK stock traded down $0.52 during trading on Friday, hitting $44.03. The stock had a trading volume of 171,601 shares, compared to its average volume of 118,275. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day moving average price is $46.39 and its two-hundred day moving average price is $43.70. TriCo Bancshares has a 1-year low of $31.73 and a 1-year high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last posted 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 for the quarter, compared to analysts’ expectations of $98.65 million. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. On average, sell-side analysts forecast that TriCo Bancshares will post 3.38 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. Stockholders of record on Friday, December 6th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

Analyst Upgrades and Downgrades

TCBK has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Stephens lowered their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $53.00 in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.