Stifel Financial Corp Has $2.05 Million Stock Holdings in TriCo Bancshares (NASDAQ:TCBK)

Stifel Financial Corp lifted its stake in shares of TriCo Bancshares (NASDAQ:TCBK) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,031 shares of the financial services provider’s stock after acquiring an additional 1,013 shares during the quarter. Stifel Financial Corp owned approximately 0.15% of TriCo Bancshares worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of TriCo Bancshares by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,610 shares of the financial services provider’s stock worth $7,305,000 after purchasing an additional 9,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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. boosted its position in TriCo Bancshares by 7.5% during the second 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 last quarter. Hantz Financial Services Inc. acquired a new stake in TriCo Bancshares during the 2nd quarter worth about $1,002,000. Finally, Rhumbline Advisers raised its position in shares of 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 in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TriCo Bancshares news, Director Cory W. Giese sold 5,100 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $49.47, for a total transaction 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 trade represents a 45.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.64% of the stock is currently owned by company insiders.

TriCo Bancshares Trading Down 0.4 %

NASDAQ TCBK opened at $43.88 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. TriCo Bancshares has a 52 week low of $31.73 and a 52 week high of $51.06. The business has a 50 day moving average price of $46.40 and a 200-day moving average price of $43.32. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 13.06 and a beta of 0.56.

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

TriCo Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, December 6th. TriCo Bancshares’s payout ratio is presently 39.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TCBK shares. Piper Sandler cut their target price on TriCo Bancshares from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Stephens cut their price target on TriCo Bancshares from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, DA Davidson lowered shares of TriCo Bancshares from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $53.00 in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, TriCo Bancshares currently has an average rating of “Hold” and a consensus target price of $48.20.

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.