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

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

TriCo Bancshares Price Performance

Shares of TCBK stock traded up $1.44 on Friday, hitting $39.57. 443,726 shares of the company's stock were exchanged, compared to its average volume of 102,063. 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 has a 12 month low of $29.38 and a 12 month high of $45.84. The stock has a market cap of $1.31 billion, a P/E ratio of 12.06 and a beta of 0.55. The company has a 50 day moving average of $37.01 and a 200 day moving average of $36.95.

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. TriCo Bancshares had a return on equity of 9.75% and a net margin of 21.25%. The business had revenue of $131.19 million during the quarter, compared to the consensus estimate of $99.50 million. On average, equities research analysts predict that TriCo Bancshares will post 3.21 EPS for the current year.

TriCo Bancshares Dividend Announcement

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

Insider Activity at TriCo Bancshares

In related news, EVP Craig B. Carney sold 757 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $38.00, for a total value of $28,766.00. Following the sale, the executive vice president now owns 32,325 shares in the company, valued at approximately $1,228,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.64% of the stock is owned by company insiders.

Institutional Trading of TriCo Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC raised its position in TriCo Bancshares by 124.6% in the fourth quarter. Lindbrook Capital LLC now owns 793 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 440 shares during the last quarter. Quadrant Capital Group LLC raised its position in TriCo Bancshares by 470.9% in the fourth quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 777 shares during the last quarter. SG Americas Securities LLC raised its position in TriCo Bancshares by 8.2% in the first quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider's stock valued at $139,000 after purchasing an additional 287 shares during the last quarter. ProShare Advisors LLC raised its position in TriCo Bancshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider's stock valued at $205,000 after purchasing an additional 439 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in TriCo Bancshares in the first quarter valued at about $227,000. 59.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised TriCo Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.