TriCo Bancshares (NASDAQ:TCBK) EVP Craig B. Carney sold 5,122 shares of the stock in a transaction that occurred 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 approximately $760,196.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ:TCBK opened at $36.52 on Friday. The company has a market capitalization of $1.10 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.75 and a beta of 0.87. TriCo Bancshares has a 1 year low of $31.05 and a 1 year high of $41.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day simple moving average is $36.21 and its 200 day simple moving average is $38.27.
TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. The business had revenue of $77.89 million for the quarter, compared to the consensus estimate of $77.76 million. TriCo Bancshares had a return on equity of 10.14% and a net margin of 26.74%. On average, sell-side analysts anticipate that TriCo Bancshares will post 2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from TriCo Bancshares’s previous quarterly dividend of $0.19. TriCo Bancshares’s dividend payout ratio (DPR) is currently 28.25%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in shares of TriCo Bancshares in the 2nd quarter valued at $378,000. Nuveen Asset Management LLC bought a new position in shares of TriCo Bancshares in the 2nd quarter valued at $6,579,000. UBS Asset Management Americas Inc. lifted its stake in shares of TriCo Bancshares by 94.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,340 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 5,981 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of TriCo Bancshares by 65.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 11,244 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 4,460 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of TriCo Bancshares by 23.6% in the 2nd quarter. Morgan Stanley now owns 42,089 shares of the financial services provider’s stock valued at $1,592,000 after acquiring an additional 8,046 shares during the last quarter. Institutional investors own 60.86% of the company’s stock.
TCBK has been the topic of a number of recent research reports. Stephens reiterated a “neutral” rating on shares of TriCo Bancshares in a research note on Monday, July 29th. Raymond James lowered their target price on TriCo Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. ValuEngine lowered TriCo Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, July 22nd. BidaskClub upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Piper Jaffray Companies initiated coverage on TriCo Bancshares in a research note on Friday, July 12th. They set a “neutral” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.50.
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. 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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