TriCo Bancshares (NASDAQ:TCBK) Shares Acquired by Chico Wealth RIA

Chico Wealth RIA grew its holdings in TriCo Bancshares (NASDAQ:TCBK) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,954 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. TriCo Bancshares comprises 1.6% of Chico Wealth RIA’s investment portfolio, making the stock its 6th biggest holding. Chico Wealth RIA owned 0.13% of TriCo Bancshares worth $1,875,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in shares of TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after buying an additional 116,838 shares during the period. Sweeney & Michel LLC raised its holdings in TriCo Bancshares by 3.7% during the third quarter. Sweeney & Michel LLC now owns 137,599 shares of the financial services provider’s stock worth $6,171,000 after purchasing an additional 4,921 shares during the last quarter. Creative Planning raised its holdings in TriCo Bancshares by 14.1% during the third quarter. Creative Planning now owns 24,468 shares of the financial services provider’s stock worth $1,044,000 after purchasing an additional 3,021 shares during the last quarter. SG Americas Securities LLC acquired a new position in TriCo Bancshares during the third quarter worth $395,000. Finally, Sei Investments Co. raised its holdings in TriCo Bancshares by 18.3% during the second quarter. Sei Investments Co. now owns 21,348 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 3,303 shares during the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $43.97 on Friday. The business has a fifty day simple moving average of $43.32 and a 200-day simple moving average of $40.26. TriCo Bancshares has a 52 week low of $29.38 and a 52 week high of $48.80. The company has a market cap of $1.46 billion, a P/E ratio of 13.41 and a beta of 0.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. The business had revenue of $97.86 million for the quarter, compared to analyst estimates of $98.55 million. Equities research analysts forecast that TriCo Bancshares will post 3.31 EPS for the current year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, September 6th. TriCo Bancshares’s dividend payout ratio (DPR) is 40.24%.

Analyst Ratings Changes

Several brokerages recently issued reports on TCBK. Stephens lifted their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler lifted their price objective on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. DA Davidson lifted their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Cory W. Giese sold 3,465 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares in the company, valued at $484,039.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the transaction, the director now directly owns 11,228 shares of the company’s stock, valued at $484,039.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is owned by company insiders.

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. 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.