SG Americas Securities LLC Increases Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

SG Americas Securities LLC lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 27.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,783 shares of the financial services provider’s stock after buying an additional 2,512 shares during the quarter. SG Americas Securities LLC’s holdings in TriCo Bancshares were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its position in TriCo Bancshares by 127.0% during the 3rd quarter. Barclays PLC now owns 57,879 shares of the financial services provider’s stock worth $2,468,000 after buying an additional 32,379 shares during the last quarter. Geode Capital Management LLC lifted its position in TriCo Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 781,650 shares of the financial services provider’s stock valued at $33,344,000 after purchasing an additional 5,155 shares during the period. JPMorgan Chase & Co. lifted its position in TriCo Bancshares by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock valued at $19,041,000 after purchasing an additional 25,817 shares during the period. Assenagon Asset Management S.A. boosted its holdings in TriCo Bancshares by 23.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 160,987 shares of the financial services provider’s stock valued at $7,035,000 after purchasing an additional 30,227 shares in the last quarter. Finally, Stifel Financial Corp increased its position in TriCo Bancshares by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 48,031 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 1,013 shares during the period. 59.11% of the stock is owned by institutional investors and hedge funds.

TriCo Bancshares Price Performance

TriCo Bancshares stock opened at $43.87 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of 12.68 and a beta of 0.58. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The firm’s 50-day simple moving average is $45.13 and its 200 day simple moving average is $44.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.63%. On average, equities research analysts predict that TriCo Bancshares will post 3.33 EPS for the current fiscal year.

TriCo Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, December 6th. TriCo Bancshares’s payout ratio is 38.15%.

Analyst Upgrades and Downgrades

TCBK has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods cut their price target on shares of TriCo Bancshares from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, January 28th. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $50.00 to $53.00 in a report on Tuesday, November 12th. Finally, Stephens dropped their target price on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.75.

Insider Transactions at TriCo Bancshares

In related news, Director Cory W. Giese sold 5,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $49.47, for a total transaction of $252,297.00. Following the transaction, the director now owns 6,128 shares of the company’s stock, valued at approximately $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.