Short Interest in TriCo Bancshares (NASDAQ:TCBK) Rises By 43.0%

TriCo Bancshares (NASDAQ:TCBK - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 459,100 shares, an increase of 43.0% from the March 15th total of 321,100 shares. Based on an average daily volume of 110,600 shares, the short-interest ratio is presently 4.2 days. Approximately 1.5% of the company's shares are sold short.

TriCo Bancshares Stock Up 2.0 %

TCBK traded up $0.78 during midday trading on Wednesday, hitting $38.88. The company had a trading volume of 115,952 shares, compared to its average volume of 117,174. TriCo Bancshares has a 52 week low of $33.65 and a 52 week high of $51.06. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.24 and a beta of 0.53. The stock's 50 day moving average price is $40.19 and its 200 day moving average price is $43.36. 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 announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.88 EPS for the quarter, beating 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%. On average, research analysts anticipate that TriCo Bancshares will post 3.35 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, March 7th. TriCo Bancshares's payout ratio is presently 38.15%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their target price on TriCo Bancshares from $53.00 to $50.00 and set a "market perform" rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.75.

Hedge Funds Weigh In On TriCo Bancshares

Large investors have recently bought and sold shares of the stock. Stifel Financial Corp grew its position in TriCo Bancshares by 2.2% during the third quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider's stock valued at $2,049,000 after buying an additional 1,013 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of TriCo Bancshares during the 3rd quarter valued at approximately $259,000. Barclays PLC increased its stake in shares of TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider's stock worth $2,468,000 after purchasing an additional 32,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider's stock valued at $33,344,000 after purchasing an additional 5,155 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in TriCo Bancshares by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider's stock valued at $19,041,000 after purchasing an additional 25,817 shares during the period. 59.11% of the stock is currently owned by institutional investors.

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.