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. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 111,200 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, TriCo Bancshares presently has an average rating of “Hold” and an average price target of $50.75.

Hedge Funds Weigh In On TriCo Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TriCo Bancshares in the 3rd quarter valued at about $28,000. Sterling Capital Management LLC increased its holdings in shares of TriCo Bancshares by 800.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,008 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 896 shares during the last quarter. Aquatic Capital Management LLC lifted its position in TriCo Bancshares by 129.5% during the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,295 shares in the last quarter. Point72 DIFC Ltd acquired a new position in TriCo Bancshares during the third quarter worth $114,000. Finally, Quantbot Technologies LP purchased a new stake in TriCo Bancshares in the 3rd quarter valued at $129,000. 59.11% of the stock is owned by hedge funds and other institutional investors.

TriCo Bancshares Stock Performance

Shares of NASDAQ:TCBK traded down $0.12 during trading on Tuesday, hitting $40.76. 25,027 shares of the stock traded hands, compared to its average volume of 106,490. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $43.16 and a two-hundred day moving average price of $44.29. TriCo Bancshares has a 52-week low of $31.73 and a 52-week high of $51.06. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 11.75 and a beta of 0.55.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. As a group, equities analysts predict that TriCo Bancshares will post 3.35 EPS for the current year.

TriCo Bancshares Dividend Announcement

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

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.