Stifel Financial Corp Boosts Holdings in TriCo Bancshares (NASDAQ:TCBK)

Stifel Financial Corp boosted its stake in TriCo Bancshares (NASDAQ:TCBK) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,031 shares of the financial services provider’s stock after acquiring an additional 1,013 shares during the period. Stifel Financial Corp’s holdings in TriCo Bancshares were worth $2,049,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of TriCo Bancshares by 839.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock worth $5,577,000 after purchasing an additional 116,838 shares during the period. American Century Companies Inc. increased its position in TriCo Bancshares by 27.3% in the second quarter. American Century Companies Inc. now owns 403,712 shares of the financial services provider’s stock worth $15,975,000 after buying an additional 86,689 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TriCo Bancshares by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,502,992 shares of the financial services provider’s stock valued at $59,471,000 after buying an additional 50,358 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of TriCo Bancshares during the 2nd quarter valued at $1,002,000. Finally, Renaissance Technologies LLC grew its stake in shares of TriCo Bancshares by 8.9% during the 2nd quarter. Renaissance Technologies LLC now owns 235,867 shares of the financial services provider’s stock worth $9,333,000 after acquiring an additional 19,224 shares during the period. 59.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TCBK. Piper Sandler lowered their price objective on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Stephens lowered 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 report on Tuesday, October 29th. Finally, DA Davidson cut shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $53.00 in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, TriCo Bancshares presently has a consensus rating of “Hold” and a consensus price target of $48.20.

TriCo Bancshares Price Performance

Shares of NASDAQ:TCBK opened at $43.88 on Friday. The company has a 50 day moving average of $46.40 and a 200 day moving average of $43.32. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.45 billion, a P/E ratio of 13.06 and a beta of 0.56. TriCo Bancshares has a 12 month low of $31.73 and a 12 month high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a net margin of 21.12% and a return on equity of 9.45%. The firm had revenue of $133.84 million during the quarter, compared to analyst estimates of $98.65 million. As a group, sell-side analysts forecast that TriCo Bancshares will post 3.38 EPS 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 3.01%. TriCo Bancshares’s dividend payout ratio is currently 39.29%.

Insider Buying and Selling at TriCo Bancshares

In other news, Director Cory W. Giese sold 5,100 shares of the stock in a transaction 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 owns 6,128 shares of the company’s stock, valued at $303,152.16. This represents a 45.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.