TriCo Bancshares (NASDAQ:TCBK) Short Interest Update

TriCo Bancshares (NASDAQ:TCBK) experienced a significant increase in short interest in December. As of December 15th, the total short interest reached 283,600 shares, marking a 23.3% rise from the November 30th total of 230,100 shares. Considering the average daily trading volume of 113,800 shares, the current short-interest ratio stands at 2.5 days, indicating how long it might take to cover the short positions.

Recent Stock Performance

The stock price of TriCo Bancshares reflected a slight decline of 1.2% on Friday, dropping by $0.52 to settle at $44.03. The trading volume for the day was 171,601 shares, surpassing its average of 118,275 shares. The company's market capitalization is approximately $1.45 billion, with a price-to-earnings ratio of 13.10. In terms of volatility, the stock has a beta of 0.56, suggesting less risk than the overall market. Over the past year, the stock ranged from a low of $31.73 to a high of $51.06. Financial ratios show a debt-to-equity ratio of 0.30, with both current and quick ratios at 0.86. Its 50-day and 200-day moving averages are $46.39 and $43.70, respectively.

Quarterly Earnings Report

TriCo Bancshares recently released its quarterly earnings on October 24th. The company's earnings per share (EPS) for the quarter were reported at $0.88, surpassing analysts' expectations of $0.82 by $0.06. The revenue for the quarter reached $133.84 million, which also exceeded forecasts of $98.65 million. The company enjoys a net margin of 21.12% and a return on equity of 9.45%. Analysts predict that TriCo Bancshares will achieve an EPS of 3.38 for the current year.

Dividend Announcement

In addition to its earnings report, TriCo Bancshares declared a quarterly dividend that was paid on December 20th. Shareholders who were on record as of December 6th received a dividend of $0.33. This translates to an annualized dividend of $1.32, yielding a 3.00% return. The ex-dividend date was also on December 6th, and the company's current payout ratio is 39.29%.

Insider Trading Activity

On December 11th, Director Cory W. Giese sold 5,100 shares of TriCo Bancshares at an average price of $49.47, resulting in a total transaction of $252,297. Following this sale, Giese's ownership decreased to 6,128 shares, valued at about $303,152.16. This sale represents a reduction of 45.42% in their position and was filed with the Securities and Exchange Commission (SEC). Currently, insiders hold 4.64% of the company's stock.

Institutional Investor Activity

Several hedge funds have recently adjusted their positions in TriCo Bancshares. For instance, Point72 Asia Singapore Pte. Ltd. invested approximately $28,000 in the third quarter, while Point72 DIFC Ltd increased their stake to $114,000. Moreover, Quantbot Technologies LP and Connor Clark & Lunn Investment Management Ltd. added new stakes valued at $129,000 and $210,000, respectively. Overall, institutional investors own 59.11% of the company.

Market Analysts' Viewpoints

Wall Street analysts are divided on the stock's outlook. DA Davidson downgraded TriCo Bancshares from a "buy" to a "neutral" rating, while Piper Sandler lowered their price target from $53.00 to $50.00. Conversely, Stephens also adjusted their target from $52.00 to $50.00. Currently, four analysts recommend holding the stock, while three maintain a buy rating. Data from MarketBeat indicates that the stock holds an average rating of "Hold" with a consensus price target of $48.20.

Company Overview

TriCo Bancshares serves as the bank holding company for Tri Counties Bank, providing a range of commercial banking services to both individuals and businesses. Their offerings include demand, savings, and time deposits, alongside various loans such as small business loans, real estate mortgages, personal loans, and commercial loans.

TriCo, Bancshares, Stocks