Creative Planning Purchases 3,021 Shares of TriCo Bancshares (NASDAQ:TCBK)

Creative Planning increased its position in shares of TriCo Bancshares (NASDAQ:TCBK) by 14.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,468 shares of the financial services provider’s stock after buying an additional 3,021 shares during the quarter. Creative Planning owned 0.07% of TriCo Bancshares worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TCBK. SG Americas Securities LLC grew its holdings in shares of TriCo Bancshares by 8.2% during the first 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 in the last quarter. ProShare Advisors LLC grew its holdings in shares of TriCo Bancshares by 8.5% during the first 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 in the last quarter. Quantbot Technologies LP acquired a new position in TriCo Bancshares during the first quarter valued at approximately $227,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TriCo Bancshares by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,973 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 758 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in TriCo Bancshares by 36.2% during 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. 59.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TCBK. DA Davidson increased their price target on TriCo Bancshares from $41.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of TriCo Bancshares in a research report on Friday, July 26th. Stephens reduced their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday. Piper Sandler reduced their price target on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $48.00 price target (up from $42.00) on shares of TriCo Bancshares in a research report 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

TriCo Bancshares Stock Performance

TCBK opened at $42.73 on Friday. TriCo Bancshares has a 12-month low of $31.73 and a 12-month high of $48.80. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 13.03 and a beta of 0.54. The business has a 50 day moving average of $43.34 and a 200-day moving average of $40.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.60% and a net margin of 21.12%. The company had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $98.65 million. On average, equities research analysts expect that TriCo Bancshares will post 3.34 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. Stockholders of record on Friday, September 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.09%. TriCo Bancshares’s dividend payout ratio (DPR) is currently 40.24%.

Insider Transactions at TriCo Bancshares

In other news, Director Cory W. Giese sold 3,465 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $43.11, for a total transaction of $149,376.15. Following the transaction, the director now owns 11,228 shares in the company, valued at approximately $484,039.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael W. Koehnen sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $45.20, for a total transaction of $63,280.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $135,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cory W. Giese sold 3,465 shares of the 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 owns 11,228 shares in the company, valued at approximately $484,039.08. 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 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.