Creative Planning Increases Position in TriCo Bancshares (NASDAQ:TCBK)

Creative Planning lifted its holdings in TriCo Bancshares (NASDAQ:TCBK) by 62.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 21,447 shares of the financial services provider’s stock after acquiring an additional 8,260 shares during the quarter. Creative Planning’s holdings in TriCo Bancshares were worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of 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 worth $139,000 after buying an additional 287 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of 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 purchased a new position in shares of TriCo Bancshares in the 1st quarter worth approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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. Finally, Principal Financial Group Inc. lifted its stake in TriCo Bancshares by 36.2% in the first quarter. Principal Financial Group Inc. now owns 13,005 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 3,460 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stephens upped their price objective on TriCo Bancshares from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Piper Sandler upped their price objective on TriCo Bancshares from $47.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. DA Davidson upped their price objective on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $48.00 price objective (up previously from $42.00) on shares of TriCo Bancshares in a research note on Monday, July 29th. Three 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, TriCo Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

TriCo Bancshares Trading Up 4.0 %

Shares of TCBK stock opened at $43.59 on Friday. The company’s fifty day simple moving average is $42.81 and its two-hundred day simple moving average is $39.69. 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 stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.82 and a beta of 0.54.

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, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $97.86 million for the quarter, compared to analysts’ expectations of $98.55 million. TriCo Bancshares had a net margin of 21.63% and a return on equity of 9.93%. As a group, analysts anticipate that TriCo Bancshares will post 3.31 earnings per share for the current year.

TriCo Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. TriCo Bancshares’s payout ratio is currently 38.82%.

Insider Transactions at TriCo Bancshares

In other news, Director Michael W. Koehnen sold 1,400 shares of the company’s stock in a transaction 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 transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $135,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction 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 owns 11,228 shares of the company’s stock, valued at $484,039.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction 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 approximately $135,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.