TriCo Bancshares (NASDAQ:TCBK) Short Interest Up 23.3% in December

by · The Markets Daily

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) saw 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 trading volume, of 113,800 shares, the short-interest ratio is currently 2.5 days.

TriCo Bancshares Trading Down 1.2 %

TCBK opened at $43.52 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 12.95 and a beta of 0.56. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06. The stock has a fifty day moving average price of $46.39 and a 200-day moving average price of $43.78.

TriCo Bancshares (NASDAQ:TCBK – Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. As a group, equities research analysts anticipate that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently announced 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. The ex-dividend date was Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 3.03%. TriCo Bancshares’s payout ratio is 39.29%.

Analyst Ratings Changes

Several research analysts have commented on TCBK shares. DA Davidson downgraded TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Stephens cut their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, 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 note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.20.

Get Our Latest Analysis on TCBK

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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TriCo Bancshares

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock worth $59,471,000 after acquiring an additional 50,358 shares in the last quarter. 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 valued at $33,344,000 after purchasing an additional 5,155 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after purchasing an additional 25,817 shares in the last quarter. American Century Companies Inc. grew its position in TriCo Bancshares by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after purchasing an additional 86,689 shares during the last quarter. Finally, Curi RMB Capital LLC increased its stake in TriCo Bancshares by 1.6% during the 3rd quarter. Curi RMB Capital LLC now owns 346,833 shares of the financial services provider’s stock valued at $14,792,000 after purchasing an additional 5,314 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

About TriCo Bancshares

(Get Free Report)

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.

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