TriCo Bancshares (NASDAQ:TCBK) Sees Significant Growth in Short Interest

TriCo Bancshares (NASDAQ:TCBK) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 379,900 shares, a growth of 23.9% from the May 31st total of 306,700 shares. Based on an average daily trading volume, of 103,800 shares, the short-interest ratio is currently 3.7 days.

Insiders Place Their Bets

In other TriCo Bancshares news, EVP Craig B. Carney sold 757 shares of TriCo Bancshares stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $38.00, for a total value of $28,766.00. Following the completion of the transaction, the executive vice president now directly owns 32,325 shares of the company’s stock, valued at approximately $1,228,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after buying an additional 287 shares during the last quarter. ProShare Advisors LLC grew its position in TriCo Bancshares by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 439 shares during the last quarter. Lindbrook Capital LLC grew its position in TriCo Bancshares by 124.6% during the 4th quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 440 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in TriCo Bancshares by 4.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,223 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 580 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in TriCo Bancshares by 8.7% during the 4th quarter. Principal Financial Group Inc. now owns 9,545 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

TriCo Bancshares Trading Up 3.8 %

Shares of TCBK opened at $39.57 on Monday. TriCo Bancshares has a 1-year low of $29.38 and a 1-year high of $45.84. The company has a 50-day moving average of $37.01 and a 200 day moving average of $36.95. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

TriCo Bancshares (NASDAQ:TCBK) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. TriCo Bancshares had a net margin of 21.25% and a return on equity of 9.75%. The business had revenue of $131.19 million for the quarter, compared to the consensus estimate of $99.50 million. On average, research analysts expect that TriCo Bancshares will post 3.21 EPS for the current year.

TriCo Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, June 7th. TriCo Bancshares’s payout ratio is currently 40.24%.

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.