25,319 Shares in TriCo Bancshares (NASDAQ:TCBK) Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. acquired a new position in shares of TriCo Bancshares (NASDAQ:TCBK) in the second quarter, HoldingsChannel reports. The firm acquired 25,319 shares of the financial services provider’s stock, valued at approximately $1,002,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in 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 purchasing an additional 777 shares in the last quarter. SG Americas Securities LLC increased its position in TriCo Bancshares by 8.2% during the 1st quarter. SG Americas Securities LLC now owns 3,788 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 287 shares in the last quarter. ProShare Advisors LLC boosted 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 worth $205,000 after buying an additional 439 shares during the last quarter. Quantbot Technologies LP acquired a new stake in TriCo Bancshares in the 1st quarter worth about $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $315,000 after buying an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Insider Activity at TriCo Bancshares

In related news, Director Cory W. Giese sold 3,465 shares of the firm’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 sale, the director now directly owns 11,228 shares in the company, valued at approximately $484,039.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of the company’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 of the company’s stock, valued at approximately $484,039.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $45.20, for a total value of $63,280.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $135,600. The disclosure for this sale can be found here. Company insiders own 4.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TCBK. DA Davidson raised their price target on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” 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 raised their price target on TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Stephens raised their price target on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price objective (up from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.80.

TriCo Bancshares Stock Performance

NASDAQ TCBK opened at $45.46 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 13.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.85. TriCo Bancshares has a 1-year low of $29.38 and a 1-year high of $48.80. The business’s 50-day simple moving average is $42.54 and its 200-day simple moving average is $38.02.

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

TriCo Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. TriCo Bancshares’s payout ratio is currently 40.24%.

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.