TriCo Bancshares (NASDAQ:TCBK) Short Interest Down 28.6% in February

TriCo Bancshares (NASDAQ:TCBK) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 297,800 shares, a decline of 28.6% from the February 13th total of 417,100 shares. Based on an average daily volume of 111,200 shares, the short-interest ratio is presently 2.7 days. Currently, 0.9% of the company’s shares are sold short.

TriCo Bancshares Trading Down 0.3 %

Shares of NASDAQ:TCBK traded down $0.12 during midday trading on Tuesday, reaching $40.76. 25,027 shares of the company’s stock were exchanged, compared to its average volume of 106,490. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 11.75 and a beta of 0.55. TriCo Bancshares has a fifty-two week low of $31.73 and a fifty-two week high of $51.06. The firm’s 50 day simple moving average is $43.16 and its two-hundred day simple moving average is $44.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

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 analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. As a group, sell-side analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, March 7th. TriCo Bancshares’s payout ratio is 38.15%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TriCo Bancshares in the 3rd quarter valued at $28,000. Sterling Capital Management LLC grew its position in TriCo Bancshares by 800.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 896 shares in the last quarter. Aquatic Capital Management LLC grew its position in TriCo Bancshares by 129.5% in the 4th quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,295 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in TriCo Bancshares during the third quarter worth about $114,000. Finally, Quantbot Technologies LP acquired a new stake in shares of TriCo Bancshares during the third quarter worth about $129,000. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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.