TriCo Bancshares (NASDAQ:TCBK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in TriCo Bancshares (NASDAQ:TCBK) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,501 shares of the financial services provider’s stock after selling 7,427 shares during the period. SG Americas Securities LLC’s holdings in TriCo Bancshares were worth $150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Alliancebernstein L.P. increased its holdings in shares of TriCo Bancshares by 14.8% during the 3rd quarter. Alliancebernstein L.P. now owns 932,965 shares of the financial services provider’s stock valued at $41,657,000 after purchasing an additional 120,568 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of TriCo Bancshares by 9.8% in the first quarter. The Manufacturers Life Insurance Company now owns 939,637 shares of the financial services provider’s stock worth $37,614,000 after acquiring an additional 84,055 shares during the period. Schroder Investment Management Group boosted its stake in shares of TriCo Bancshares by 37.6% during the 3rd quarter. Schroder Investment Management Group now owns 282,820 shares of the financial services provider’s stock worth $9,059,000 after acquiring an additional 77,221 shares in the last quarter. State Street Corp grew its position in shares of TriCo Bancshares by 9.1% during the 1st quarter. State Street Corp now owns 817,166 shares of the financial services provider’s stock valued at $32,711,000 after acquiring an additional 67,917 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of TriCo Bancshares by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 1,418,186 shares of the financial services provider’s stock valued at $56,770,000 after purchasing an additional 52,760 shares in the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

TriCo Bancshares Stock Performance

NASDAQ:TCBK opened at $32.03 on Wednesday. The company has a market cap of $1.07 billion, a P/E ratio of 9.10 and a beta of 0.53. TriCo Bancshares has a twelve month low of $28.66 and a twelve month high of $45.84. The company’s 50-day moving average price is $34.47 and its 200-day moving average price is $36.05. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63.

TriCo Bancshares (NASDAQ:TCBK) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.07). The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $101.30 million. TriCo Bancshares had a return on equity of 10.64% and a net margin of 23.49%. On average, sell-side analysts forecast that TriCo Bancshares will post 3.25 earnings per share for the current fiscal year.

TriCo Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.33 per share. This is a boost from TriCo Bancshares’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 4.12%. TriCo Bancshares’s payout ratio is presently 37.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TCBK. Raymond James boosted their price objective on TriCo Bancshares from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. DA Davidson decreased their price objective on shares of TriCo Bancshares from $49.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Keefe, Bruyette & Woods reduced their price target on shares of TriCo Bancshares from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Finally, StockNews.com upgraded TriCo Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TriCo Bancshares has an average rating of “Moderate Buy” and a consensus target price of $42.00.

TriCo Bancshares 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.