TriCo Bancshares (NASDAQ:TCBK) Short Interest Down 5.8% in November

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TriCo Bancshares (NASDAQ:TCBK) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 403,400 shares, a drop of 5.8% from the October 31st total of 428,200 shares. Based on an average trading volume of 58,600 shares, the days-to-cover ratio is presently 6.9 days. Currently, 1.5% of the company’s shares are short sold.

NASDAQ:TCBK opened at $38.65 on Monday. The business’s 50-day moving average is $37.52 and its two-hundred day moving average is $37.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. TriCo Bancshares has a 12 month low of $31.05 and a 12 month high of $41.31. The firm has a market capitalization of $1.19 billion, a PE ratio of 14.37 and a beta of 0.86.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. TriCo Bancshares had a return on equity of 10.70% and a net margin of 28.45%. The company had revenue of $78.80 million for the quarter, compared to analyst estimates of $77.91 million. Equities analysts anticipate that TriCo Bancshares will post 2.98 EPS for the current year.

A number of research analysts recently weighed in on the company. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. ValuEngine upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Raymond James reduced their target price on TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, Zacks Investment Research upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.50.

In related news, EVP Craig B. Carney sold 5,122 shares of TriCo Bancshares stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $36.38, for a total value of $186,338.36. Following the transaction, the executive vice president now owns 20,896 shares in the company, valued at $760,196.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Aperio Group LLC purchased a new position in TriCo Bancshares in the second quarter valued at about $231,000. Charles Schwab Investment Management Inc. raised its position in TriCo Bancshares by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 157,429 shares of the financial services provider’s stock valued at $5,951,000 after purchasing an additional 5,881 shares during the period. Virginia Retirement Systems ET AL raised its position in TriCo Bancshares by 8.1% in the second quarter. Virginia Retirement Systems ET AL now owns 12,000 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 900 shares during the period. LPL Financial LLC purchased a new position in TriCo Bancshares in the second quarter valued at about $438,000. Finally, Russell Investments Group Ltd. raised its position in TriCo Bancshares by 56.4% in the third quarter. Russell Investments Group Ltd. now owns 52,678 shares of the financial services provider’s stock valued at $1,914,000 after purchasing an additional 18,991 shares during the period. 62.36% of the stock is currently owned by institutional investors.

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. It accepts demand, savings, and money market accounts, as well as time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; commercial loans, including agricultural loans; and real estate construction loans.

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