TriCo Bancshares (NASDAQ:TCBK - Get Free Report) was the recipient of a significant decline in short interest in 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 stock are short sold. Based on an average trading volume of 111,200 shares, the days-to-cover ratio is currently 2.7 days.
TriCo Bancshares Trading Down 1.1 %
TriCo Bancshares stock traded down $0.46 during trading hours on Thursday, hitting $40.47. The stock had a trading volume of 77,019 shares, compared to its average volume of 106,615. The business's 50 day simple moving average is $43.10 and its 200-day simple moving average is $44.23. TriCo Bancshares has a one year low of $31.73 and a one year high of $51.06. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 11.70 and a beta of 0.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.
TriCo Bancshares (NASDAQ:TCBK - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities analysts predict that TriCo Bancshares will post 3.35 EPS for the current fiscal year.
TriCo Bancshares Dividend Announcement
The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.26%. TriCo Bancshares's dividend payout ratio (DPR) is presently 38.15%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods reduced their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, TriCo Bancshares currently has a consensus rating of "Hold" and a consensus target price of $50.75.
Check Out Our Latest Analysis on TriCo Bancshares
Institutional Trading of TriCo Bancshares
Several institutional investors have recently modified their holdings of TCBK. Point72 Asia Singapore Pte. Ltd. acquired a new position in TriCo Bancshares during the 3rd quarter worth about $28,000. Sterling Capital Management LLC lifted its stake 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 worth $44,000 after acquiring an additional 896 shares during the period. Aquatic Capital Management LLC boosted its holdings in TriCo Bancshares by 129.5% in the fourth quarter. Aquatic Capital Management LLC now owns 2,295 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 1,295 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in TriCo Bancshares during the 3rd quarter valued at approximately $114,000. Finally, Public Employees Retirement System of Ohio increased its position in TriCo Bancshares by 591.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,951 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 2,524 shares during the period. Institutional investors own 59.11% of the company's stock.
About TriCo Bancshares
(
Get Free Report)
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.
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