Farther Finance Advisors LLC Sells 3,926 Shares of TriCo Bancshares (NASDAQ:TCBK)

Farther Finance Advisors LLC reduced its position in TriCo Bancshares (NASDAQ:TCBK) by 85.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 664 shares of the financial services provider’s stock after selling 3,926 shares during the quarter. Farther Finance Advisors LLC’s holdings in TriCo Bancshares were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TCBK. Chico Wealth RIA raised its stake in TriCo Bancshares by 2.3% during the third quarter. Chico Wealth RIA now owns 43,954 shares of the financial services provider’s stock worth $1,875,000 after acquiring an additional 1,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in TriCo Bancshares by 839.2% during the third quarter. Assenagon Asset Management S.A. now owns 130,760 shares of the financial services provider’s stock valued at $5,577,000 after purchasing an additional 116,838 shares during the period. Sweeney & Michel LLC boosted its position in shares of TriCo Bancshares by 3.7% during the third quarter. Sweeney & Michel LLC now owns 137,599 shares of the financial services provider’s stock worth $6,171,000 after purchasing an additional 4,921 shares in the last quarter. Creative Planning grew its holdings in shares of TriCo Bancshares by 14.1% in the 3rd quarter. Creative Planning now owns 24,468 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 3,021 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of TriCo Bancshares in the 3rd quarter valued at $395,000. Institutional investors and hedge funds own 59.11% of the company’s stock.

Insider Activity

In other TriCo Bancshares news, Director Michael W. Koehnen sold 1,400 shares of TriCo Bancshares 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 sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $135,600. The trade was a 31.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TCBK shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of TriCo Bancshares in a research note on Friday, July 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 target price (up previously from $42.00) on shares of TriCo Bancshares in a research report on Monday, July 29th. DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $53.00 in a research report on Tuesday. Stephens cut their price objective on shares of TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler cut their price target on 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TriCo Bancshares currently has an average rating of “Hold” and a consensus target price of $48.20.

TriCo Bancshares Stock Performance

NASDAQ TCBK opened at $47.59 on Friday. TriCo Bancshares has a 1 year low of $31.73 and a 1 year high of $50.63. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.16 and a beta of 0.54. 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 firm’s 50 day simple moving average is $43.76 and its 200 day simple moving average is $41.61.

TriCo Bancshares (NASDAQ:TCBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. TriCo Bancshares had a return on equity of 9.45% and a net margin of 21.12%. The business had revenue of $133.84 million for the quarter, compared to analyst estimates of $98.65 million. As a group, research analysts expect that TriCo Bancshares will post 3.38 earnings per share for the current fiscal year.

TriCo Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.33 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. TriCo Bancshares’s dividend payout ratio (DPR) is presently 39.29%.

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.