TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 345,700 shares, a drop of 22.9% from the March 31st total of 448,100 shares. Based on an average daily volume of 124,900 shares, the short-interest ratio is currently 2.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in shares of TriCo Bancshares by 124.6% during the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock valued at $34,000 after buying an additional 440 shares during the last quarter. Swiss National Bank raised its position in shares of TriCo Bancshares by 0.7% during the third quarter. Swiss National Bank now owns 69,400 shares of the financial services provider’s stock valued at $2,223,000 after buying an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 buying an additional 580 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of TriCo Bancshares by 8.7% during the fourth quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock valued at $410,000 after buying an additional 764 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of TriCo Bancshares by 470.9% during the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock valued at $40,000 after buying an additional 777 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Down 0.0 %

Shares of TCBK stock traded down $0.01 on Tuesday, hitting $34.77. The company’s stock had a trading volume of 123,866 shares, compared to its average volume of 116,418. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. TriCo Bancshares has a fifty-two week low of $28.66 and a fifty-two week high of $45.84. The firm’s fifty day moving average price is $34.28 and its 200-day moving average price is $36.19. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.60 and a beta of 0.53.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $131.19 million during the quarter, compared to analyst estimates of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. Research analysts anticipate that TriCo Bancshares will post 3.23 EPS for the current year.

TriCo Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.33 per share. This is a positive change from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. TriCo Bancshares’s payout ratio is currently 40.24%.

Analyst Ratings Changes

TCBK has been the subject of a number of research reports. DA Davidson decreased their target price on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Keefe, Bruyette & Woods decreased their target price on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. StockNews.com raised shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James lifted their target price on shares of TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.