TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

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

Hedge Funds Weigh In On TriCo Bancshares

Several institutional investors have recently added to or reduced their stakes in TCBK. Eagle Asset Management Inc. bought a new position in TriCo Bancshares during the fourth quarter valued at about $8,000,000. Franklin Resources Inc. boosted its position in TriCo Bancshares by 6.0% during the fourth quarter. Franklin Resources Inc. now owns 1,526,919 shares of the financial services provider’s stock worth $65,612,000 after purchasing an additional 86,141 shares during the period. Schroder Investment Management Group boosted its position in TriCo Bancshares by 37.6% during the third quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after purchasing an additional 77,221 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of TriCo Bancshares by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,414,921 shares of the financial services provider’s stock worth $60,801,000 after buying an additional 64,815 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of TriCo Bancshares in the first quarter worth about $2,141,000. Institutional investors 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 stock had a trading volume of 123,866 shares, compared to its average volume of 116,418. The business has a 50 day moving average of $34.28 and a 200 day moving average of $36.19. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 10.60 and a beta of 0.53. 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 12-month low of $28.66 and a 12-month high of $45.84.

TriCo Bancshares (NASDAQ:TCBK) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.87%. As a group, analysts expect that TriCo Bancshares will post 3.23 EPS for the current year.

TriCo Bancshares Increases Dividend

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

Analyst Upgrades and Downgrades

TCBK has been the topic of several research reports. DA Davidson lowered their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Raymond James upped their price objective on shares of TriCo Bancshares from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. StockNews.com upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.