TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 558,000 shares, an increase of 28.7% from the June 30th total of 433,500 shares. Based on an average daily volume of 119,400 shares, the days-to-cover ratio is presently 4.7 days.

Analyst Upgrades and Downgrades

TCBK has been the subject of a number of research reports. Piper Sandler lifted their target price on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday. DA Davidson boosted their price objective on shares of TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a report on Monday. Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday. StockNews.com upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Stephens boosted their price target on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.80.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK traded down $0.78 during midday trading on Monday, hitting $46.84. The stock had a trading volume of 221,297 shares, compared to its average volume of 120,397. The company’s 50-day moving average price is $39.40 and its 200-day moving average price is $36.95. TriCo Bancshares has a fifty-two week low of $29.38 and a fifty-two week high of $48.80. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.55 billion, a P/E ratio of 14.22 and a beta of 0.56.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a return on equity of 10.03% and a net margin of 21.63%. The firm had revenue of $131.19 million during the quarter, compared to analysts’ expectations of $99.50 million. As a group, equities research analysts predict that TriCo Bancshares will post 3.24 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.33 per share. The ex-dividend date was Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.82%. TriCo Bancshares’s dividend payout ratio is currently 40.24%.

Insiders Place Their Bets

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total value of $28,766.00. Following the transaction, the executive vice president now directly owns 32,325 shares of the company’s stock, valued at approximately $1,228,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 287 shares in the last quarter. ProShare Advisors LLC raised its position in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 439 shares during the last quarter. Lindbrook Capital LLC raised its position in TriCo Bancshares by 124.6% in the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 440 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TriCo Bancshares by 4.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 580 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 758 shares during the last quarter. Institutional investors own 59.11% of the company’s stock.

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.