BNP Paribas Financial Markets Buys 4,799 Shares of TriCo Bancshares (NASDAQ:TCBK)

BNP Paribas Financial Markets grew its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 75.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,187 shares of the financial services provider’s stock after acquiring an additional 4,799 shares during the period. BNP Paribas Financial Markets’ holdings in TriCo Bancshares were worth $477,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in TriCo Bancshares by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock valued at $7,305,000 after purchasing an additional 9,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TriCo Bancshares by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after buying an additional 758 shares during the period. Principal Financial Group Inc. lifted its position in shares of TriCo Bancshares by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after buying an additional 973 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of TriCo Bancshares during the 2nd quarter worth $1,002,000. Finally, Rhumbline Advisers increased its holdings in TriCo Bancshares by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 63,125 shares of the financial services provider’s stock worth $2,498,000 after acquiring an additional 1,109 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Wall Street Analyst Weigh In

TCBK has been the topic of several recent research reports. DA Davidson downgraded shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Stephens dropped their price target on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Piper Sandler reduced their price objective on shares of TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, TriCo Bancshares presently has a consensus rating of “Hold” and a consensus price target of $48.20.

Insider Buying and Selling 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 value of $252,297.00. Following the transaction, the director now directly owns 6,128 shares in the company, valued at approximately $303,152.16. This represents a 45.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.64% of the company’s stock.

TriCo Bancshares Trading Down 0.8 %

Shares of TriCo Bancshares stock opened at $48.04 on Friday. The company’s 50-day moving average price is $46.11 and its 200-day moving average price is $43.09. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $51.06. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 14.30 and a beta of 0.56.

TriCo Bancshares (NASDAQ:TCBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $133.84 million during the quarter, compared to the consensus estimate of $98.65 million. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. On average, equities analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.33 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.75%. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

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.