Creative Planning Has $849,000 Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Creative Planning raised its stake in TriCo Bancshares (NASDAQ:TCBK) by 62.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,447 shares of the financial services provider’s stock after buying an additional 8,260 shares during the period. Creative Planning owned 0.06% of TriCo Bancshares worth $849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of 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 valued at $139,000 after acquiring an additional 287 shares in the last quarter. ProShare Advisors LLC boosted its position in TriCo Bancshares by 8.5% during 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 period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TriCo Bancshares by 10.5% during 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 period. Sei Investments Co. grew its holdings in TriCo Bancshares by 4.4% during the 1st quarter. Sei Investments Co. now owns 18,045 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 764 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in TriCo Bancshares by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 13,978 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 973 shares during the period. Institutional investors own 59.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of TriCo Bancshares from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. DA Davidson lifted their target price on TriCo Bancshares from $41.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $48.00 target price (up from $42.00) on shares of TriCo Bancshares in a report on Monday, July 29th. Stephens lifted their target price on TriCo Bancshares from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.80.

TriCo Bancshares Stock Performance

TCBK stock opened at $43.59 on Friday. The stock has a 50-day moving average price of $42.81 and a 200-day moving average price of $39.69. TriCo Bancshares has a 1-year low of $29.38 and a 1-year high of $48.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.44 billion, a PE 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 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. TriCo Bancshares had a return on equity of 9.93% and a net margin of 21.63%. The business had revenue of $97.86 million during the quarter, compared to analyst estimates of $98.55 million. As a group, equities research analysts expect that TriCo Bancshares will post 3.31 earnings per share for the current year.

TriCo Bancshares Announces Dividend

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

Insider Activity at TriCo Bancshares

In related news, Director Cory W. Giese sold 3,465 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $43.11, for a total value of $149,376.15. Following the completion of the sale, the director now directly owns 11,228 shares of the company’s stock, valued at $484,039.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TriCo Bancshares news, Director Cory W. Giese sold 3,465 shares of TriCo Bancshares 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 completion of the transaction, the director now owns 11,228 shares in the company, valued at approximately $484,039.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares stock in a transaction dated 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 $135,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by corporate insiders.

About TriCo Bancshares

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.