TriCo Bancshares (NASDAQ:TCBK) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 19.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,004 shares of the financial services provider’s stock after selling 1,970 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in TriCo Bancshares were worth $317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of TriCo Bancshares by 470.9% during the 4th quarter. Quadrant Capital Group LLC now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 777 shares during the last quarter. SG Americas Securities LLC raised its stake in TriCo Bancshares by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 287 shares during the last quarter. ProShare Advisors LLC raised its stake in TriCo Bancshares by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 439 shares during the last quarter. Quantbot Technologies LP acquired a new position in TriCo Bancshares in the 1st quarter valued at about $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TriCo Bancshares by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 59.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TriCo Bancshares Stock Up 0.7 %

Shares of NASDAQ:TCBK opened at $43.73 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.85. TriCo Bancshares has a 1 year low of $29.38 and a 1 year high of $48.80. The stock has a market capitalization of $1.44 billion, a P/E ratio of 13.33 and a beta of 0.54. The stock has a 50-day simple moving average of $43.75 and a 200-day simple moving average of $38.82.

TriCo Bancshares (NASDAQ:TCBK) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The business had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $98.55 million. Equities analysts forecast that TriCo Bancshares will post 3.3 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, September 6th. TriCo Bancshares’s payout ratio is currently 40.24%.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction dated 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 owns 11,228 shares in the company, valued at approximately $484,039.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael W. Koehnen sold 1,400 shares of the business’s 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 transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $484,039.08. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.

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.